Shares in e-commerce software and services provider PcOrder.com Inc soared as much as 183% following its initial public offering Friday. The Austin, Texas-based company sold 2.2 million shares at $21 a piece after lead underwriter Goldman Sachs & Co had increased the price from an initial range of $11-13 just ahead of the offering. The shares closed the day at $47.125, a gain of more than 124%, after trading as high as $59.50. The company, which employs 194 people and saw a 1998 net loss of $9.6m on revenue of $21.7m, says it will use the proceeds of the offering for general working capital and possibly for investments in complementary businesses. PcOrder.com provides services that are designed to help computer suppliers and resellers sell their goods online, a business that has become increasingly attractive with more companies adopting the all-important direct marketing approach. It lists Compaq Computer Corp and Computer City among its customers. The shares are trading on the Nasdaq market under the symbol PCOR.
PCORDER.COM SHARES SURGE AFTER IPO
