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Vonage shares hit the NYSE

Trading down...

Internet Security Threat Report 2014

Voice over Internet Protocol company Vonage sold its shares on the NYSE for the first time today.

The offering was a little unusual because only 20 per cent of company shares were sold and 13.5 per cent of shares are reserved for Vonage customers. To qualify you must be a US citizen, live in the US, and have opened a Vonage account before mid-December 2005.

Vonage shares are priced at $17 each, which will raise $531m if prices hold. But at the time of writing, shortly after the NYSE opened, Vonage was down 4.4 per cent at $16.25. Prices often bounce around a little in early trading, but Vonage will be disappointed to fall from its launch price.

More from Vonage, including up-to-date share prices, here. ®

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