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Wireless - Wednesday, June 6, 2007

Starent IPO Up Day 1 Despite Bear Day

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Starent is up 15% from its initial pricing so far today. Starent Networks sells hardware and software for mobile telephony. It raised $126.4M above a forecast range. The offering of 10.5M shares sold for $12 per share, compared with a forecast range of $9 to 11. The offer price gave the company an initial market capitalization of $749M.

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