Vonage IPO starts on May 23
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A date to add in your calendar: May 23, 2006. Wednesday of next week. It’s the day Vonage scheduled its IPO.
Vonage should issue about 31.25 million shares, rated around $16-$18 each. Multichannel News indicates that another 4.7 million shares would be set aside for underwriters’ overallotments, making the total proceeds from the offering $575 million-$647 million.
Many have been said over this initial price offer. Over anticipated. Not relevant churn figures. Voice spamming mail enticing sent to its own customers begging them to buy more stocks.
Lately, the Wall Street Journal reported Vonage’s customer service is facing tons of complaints of poor sound quality and dropped calls, while Digital Trends assets that Vonage IPO web site only works with Internet Explorer ― although we smiled a bit because all their ad spaces are filled with Vonage promotions.
Anyway, the verdict will soon be publicly known.
May 20, 2006 | By Nuno
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