Spotlight: E-Trade Completes Its First Online IPO
Palo Alto-based online broker E-Trade Group Inc. said it has successfully completed its first online initial public offering, selling all of its allocation of shares of Internet-based sports information service Sportsline USA Inc. E-Trade said more than half its eligible customers participated in the IPO. A total of 75,000 shares of Fort Lauderdale, Fla.-based Sportsline USA were sold online to individual investors. Sportsline shares rose $1.13 to close at $8.88 on Nasdaq.
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