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Technology / AI and automation

VERISIGN FILES FOR $40M INITIAL PUBLIC OFFERING

Internet security software provider VeriSign Inc has filed with the Securities and Exchange Commission to raise up to $40m in an initial public offering of common stock. The company plans to use about $5m of the proceeds to cover capital spending for fiscal 1998. The rest of the money would be used for general business purposes, including possible acquisitions. Neither an approximate number of shares to be offered nor a possible price were mentioned in the filing. The Mountain View, California-based VeriSign provides confidential digital certificates used to conduct commercial transactions on the internet.

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CBR Staff Writer

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