VoIP provider Vonage has made a financial call.
The voice over Internet Protocol provider has priced its initial public offering at $17 per share, the middle of its expected $16 to $18 range. It plans to offer 31.25 million shares, a multiple that would raise $531 million in the offering.
Shares of Vonage are proposed to sell on the New York Stock Exchange under the ticker symbol "VG."
Citigroup, Deutsche Bank Securities, and UBS Investment Bank led
the offering. Bear Stearns & Co., Piper Jaffray and Thomas Weisel Partners are co-managers.
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