CNET News.com: Andover.Net success boosts OpenIPO conceptDec 13, 1999, 16:17 (0 Talkback[s])
(Other stories by Dawn Kawamoto)
"When shares of Andover.Net more than tripled on their first day of trading last week, institutional investors and company employees weren't the only winners."
"Under a unique method for launching initial public offerings, individual investors also were able to obtain shares at the offering price of $18 and watch them surge to more than $63 within a day."
"For underwriter WR Hambrecht, Andover.Net's success seemed to redeem a novel approach to allocating coveted IPO shares. Two previous efforts had been far less spectacular. However, at least one institutional investor who missed out on the run-up believes the process was flawed."