Ariba’s Stock Price Triples In Its First Day of Trading
Wall Street Journal
06.24.1999
1 min read
Ariba Inc., which helps big companies manage their procurement over the Internet, made a sizzling stock-market debut, more than tripling in price in its first day of trading Wednesday. Ariba, founded in 1996, rose $67 a share to $90, in hectic Nasdaq Stock Market trading of more than 11 million shares. At the closing price, the entire company has a value of $3.7 billion. Underwriters were led by Morgan Stanley…
