Internet service provider Prodigy Communications Corp priced its eagerly-awaited initial public offering of 8.0 million shares of common stock – due to begin trading today – at $15 per share, raising a total of $120m for the company. The company initially filed with the Securities and Exchange Commission for the IPO back in September, but waited to price the offering until now. The transaction was led by Bear, Stearns & Co Inc and BancBoston Robertson Stephens Inc and co-managed by ING Baring Furman Selz LLC and Volpe Brown Whelan & Co, with Wit Capital Corp acting as e-Manager. The underwriters were granted an option to purchase up to 1.2 million shares to cover over-allotments. Prodigy also announced that Telefonos de Mexico SA, an affiliate of the company’s principal stockholder, Carso Global Telecom SA, is concurrently purchasing 2.0 million shares directly from the company at the initial public offering price.
