FlashNet sees healthy first day of trading

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Ft. Worth, Texas-based Internet service provider FlashNet Communications saw its stock price jump 153% March 16, its first day of trading on the Nasdaq market. Shares reached a high of $45 for the day. FlashNet had priced 3 million shares at $17 per share in an initial public offering late March 15. BancBoston Robertson Stephens was the lead underwriter for the company.

Copyright March 1999, Crain Communications Inc.

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