Until Next Year
Telekom Austria went public. The offering price was $15.27. However, on its first day of trading, the stock closed at $13.44. What's more, the number of shares was reduced from 140 million to 128.8 million.
The company is a full-service telecom provider in Austria. But of course, telecom is under extreme pressure. Moreover, Telekom Austria is really a niche play.
Another overseas telecom company went public last week: Spain's Telefonica Moviles. On its first day of trading, the stock was down 3.6 percent to $9. The company is the biggest wireless operator in Spain and has strong presence in Latin America (there are more than nine million subscribers in this region).
Although, there was some action in U.S. markets. iMagicTV went public. The IPO was priced at $11 and sank to $8.81. It closed at $9. The company raised about $53 million.
Basically, the company is a developer of sophisticated software technologies for interactive TV.
With a name like Alliance Fiber Optics Products
On its first day of trading Alliance Fiber fell about 8 percent. No doubt,
a few months ago, this offering would have been a screamer.
Well, there are legitimate concerns with the company. The product line is
not considered state-of-the-art. Also, the manufacturing capabilities seem
to be limited.
, isn't this supposed to mean a good IPO? Optics is red hot, right?
Not necessarily anymore.
