Business Objects SA, Paris got its initial public offering of 2.3m American Depositary Shares, 1.7m of them new and each representing two ordinary shares, away at $17.50 a time; 1.725m were sold in the US and 575,000 were sold internationally. Proceeds of $28m or so after expenses will be used for working capital. Goldman, Sachs & Co and Alex Brown & Sons Inc were the managing underwriters.
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