Lucent's Agere Unit Raises Number of Shares in IPO, but Cuts Price Range

Lucent's (LU Quote - Cramer on LU - Stock Picks) microelectronics unit Agere Systems raised the number of common shares in its initial public offering to 500 million from 370.3 million, but lowered the expected price range for the issue.

Agere lowered the price range to $12 to $14 a share from $16 to $19. The company plans to trade under the symbol AGR on the New York Stock Exchange.

Shares of Lucent, which makes communications systems and software and is based in Murray Hill, N.J., gained 28 cents, or 2.2%, to $12.68 in recent Big Board trading.