View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
February 10, 1999


By CBR Staff Writer

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.

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.