Fortinet announces pricing of IPO

SUNNYVALE, USA: Fortinet, a provider of network security appliances and unified threat management (UTM) solutions, announced on Tuesday its initial public offering (IPO) of 12,500,000 shares of its common stock at a price of $12.50 per share to the public.

The shares will begin trading on Wednesday, November 18, 2009 on the NASDAQ Global Market under the ticker symbol 'FTNT.' Of the shares in the offering, 5,781,683 shares are being offered by the company while 6,718,317 shares are offering by selling stockholders, Fortinet said in a press release.

In addition, Fortinet has granted the underwriters a 30-day option to purchase up to an additional 1,875,000 shares of common stock to cover over-allotments, if any. Fortinet will not receive any proceeds from the sale of shares by the selling stockholders.

Morgan Stanley & Co. Incorporated, J.P. Morgan Securities Inc., and Deutsche Bank Securities Inc. are acting as joint book-runners for the offering. Robert W. Baird & Co. Incorporated, RBC Capital Markets Corporation, ThinkEquity LLC, JMP Securities LLC, and Signal Hill Capital Group LLC are acting as co-managers, the release added.

Name
Email
Comment Here
Code Verification

What's Data up to?

Dell's Windows 8 tablets to cost $199

Windows 8 will support future applications: Ballmer

Euro 2012 free app for Android

Microsoft to incubate 10 Indian startups

Why 122,680 Facebookers 'like' Nirmal Baba?

Do you think IT employees need unions?

Book your trip to Vaishno Devi online

Can Aamir Khan bring down female foeticide?

DataWind terms Aakash II launch a revolution

Subscribe to PCQuest for iPad & Android tablets

Register Free at DQ Top 20 Online portal & get insights on the Indian IT Industry

Enterprise IT News and Analysis in your inbox

Subscribe to the free PCQuest newsletter

Do you think IT employees need unions?

Arun and Cipla - no ladders, no snakes

Cyber attacks: Have India's neighbours turned culprits?

Personal cloud will eclipse PC: Gartner

SMEs don't give much importance to security

Sponsored Links

Custom Site

Demo Downloads On :

1-Click News Updates