Vonage shares hit the NYSE

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. ®