Telecom & Wireless
Starent Networks Premium IPO Pricing (STAR)
Published:
Last Updated:
Starent Networks Corp. (STAR-NASDAQ) priced its awaited 10.5 million share IPO at $12.00 per share, above the original $9.00 to $11.00 range. Underwriters are isted as Goldman Sachs, Lehman Brothers, Thomas Weisel, and J.P.Morgan. 9 million shares are being sold by the company, and 1.5 million shares are being sold by the company. So the company will receive $108 million before fees.
Starent is a provider of hardware and software enabling mobile-service operators to delivery multimedia services to subscribers. It works with video downloads or streaming, Internet access, voice-over-IP, e-mail, mobile TV, video and photo sharing, gaming, and others. On its site it lists Cantv, SK Telecom, US Cellular, Verizon, Virgin Mobile, Vivo, Zapp, China Unicom, and KDDI as its key customers.
The company had revenues of $94 million and net income was almost $4 million in 2006. More information can be found at its website at starentnetworks.com. Jon C. Ogg
June 6, 2007
Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.
Ever wanted an extra set of eyes on an investment you’re considering? Now you can speak with up to 3 financial experts in your area for FREE. By simply
clicking here you can begin to match with financial professionals who can help guide you through the financial decisions you’re making. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.