By Steve Gelsi Last Update: 1:34 PM ET May 22, 2006
NEW YORK (MarketWatch) -- Wednesday's initial public offering from Vonage is multiple times oversubscribed, theflyonthewall.com said Monday. The Web site said it expects the IPO to price at the $17-$18 level. The Internet phone specialist will price the offer of 31.25 million shares Tuesday night. The estimated price range is $16-$18 a share. At the midpoint of the range, the IPO will raise about $531 million.
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