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Technology / AI and automation

STORAGE DIMENSIONS CUTS ASKING PRICE FOR SHARES

The steam is going out of the US high technology new issues market and companies that start out too greedy are finding they have to scale back their ambitions, lower their asking price and cut down on the number of shares they offer. Latest is disk subsystems integrator Storage Dimensions Inc, Milpitas, which cut its target price to $7 to $9 from $8.50 to $10.50, and the number of shares to 2.7 million from 3.8 million – and still had to settle for a rock bottom price per share of $7.

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