Bridge Information Systems Prepares For The Savvis Initial Public Offering
SPECIAL REPORT
NEW YORK--Bridge’s subsidiary Savvis Communications is expected to price its initial public offering (IPO) of 17 million shares of stock February 14.
Savvis intends to sell 14.9 million primary shares, and Bridge will reduce its current 69 per cent stake in Savvis to around 56 per cent by offering 2.1 million shares. Price talk for the shares is around the $22-$25 per share mark
Savvis would receive about $325 million and Bridge about $50 million, assuming a share price of $23.50 from the IPO
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