UPDATE: AT&T Wireless IPO Posts Modest Gain

SAN FRANCISCO (04/27/2000) - AT&T Wireless Group's initial public offering (IPO) brought in a modest return on its first trading day, reflecting uncertainty in the financial markets.

The tracking stock, set at US$29.50 per share by AT&T, ended the day at $31.81 on the Nasdaq exchange, up $2.31, an increase in value of 7.84 percent, according to financial and stock market Internet sites.

The share high reached $40 in early trading and then settled in at $31.43 per share just before 11 a.m. The share low was $29.90 during the first 90 minutes of trading.

AT&T issued 360 million shares of the tracking stock for today's IPO, expected to be one of the largest yet. But the IPO arrived during a difficult stretch for the market with the technology-heavy Nasdaq stock exchange recently taking a beating and affecting other exchanges. AT&T Wireless, trading under the symbol AWE, is on the New York Stock Exchange.

The Nasdaq composite closed today at 3,774, up 144 points.

AT&T, Basking Ridge, New Jersey, can be reached at +1-908-221-2000 or http://www.att.com/.

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

More about AT&TAT&T WirelessWireless Group

Show Comments