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06/24/1999 Source:  Wall Street Journal
Author: Wall Street Journal 1 min read

Ariba’s Stock Price Triples In Its First Day of Trading

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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…

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