Schachter, Ken
April 2007
Red Herring;4/30/2007, Vol. 4 Issue 16, p9
Trade Publication
The article reports that MetroPCS, whose all-you-can talk business model puts cellular phones in the hands of the young, poor, and disenfranchised, has showed itself to be quite a hit among well-to-do investors on Wall Street, New York City. The upstart cellular phone group pulled off the first billion-dollar initial public offering (IPO) of 2007 on April 19 when it raised $1.15 billion by selling 50 million shares at $23 per share, above the expected $19 to $21 range. Shares in the Dallas-based company climbed almost 19 percent on its first day of trading on the New York Stock Exchange.


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