Jupiter begins Nasdaq trading

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New York--Internet commerce research company Jupiter Communications began trading on the Nasdaq system on Friday. With an initial public offering of 3.125 million shares priced at $21 apiece, Jupiter raised about $65 million. An additional 468,750 shares were available to cover over-allotments. If all these shares sell, Jupiter may have raised an additional $9.8 million. The company had stated in filings with the Securities & Exchange Commission that part of the proceeds were to be used for brand building. In early trading Friday, shares of Jupiter had climbed to $36, 71% above the IPO price. The lead manager on the offering was Donaldson, Lufkin & Jenrette, New York.
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