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CompuServe closes first day of trading up $3

Published on .

CompuServe closed its first day of trading at $33 per share on Friday, up only $3 from its initial offering of $30 at the start of the day. Expectations of CompuServe's performance had been mixed; parent company H&R Block announced plans to spin off the online service company earlier this year, citing the need to refocus on tax accounting and other financial service businesses it provides. But some industry observers think CompuServe waited too long to make its IPO.

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