Updated from 2:22 p.m. EST
Broadband was the shining IPO play of the day Friday, while two new Internet-related issues received a more restrained reception.
( UAXS) more than doubled in its first day of trading. But
Integrated Information Systems
, the two Internet-related companies, rose somewhat modestly in comparison, despite strong demand from financial institutions.
Universal Access soared 23, or 164%, to close at 37 Friday, after reaching a session high of 40 3/4.
The Chicago-based company installs and services point-to-point communications links, or circuits, for high-capacity bandwidth. It offers service providers a quick way to increase network capacity and gives transport suppliers more bandwidth to sell.
was the lead underwriter of the initial public offering of 11 million shares, which were priced at $14 apiece. Strong demand for the stock pushed up the offering price from an $8-$10 range. The offering brought in $154 million. It had expanded the size of the offering to 10 million shares.
Universal Access' revenues grew more than eight times from $1.6 million in 1998 to $14.3 million in 1999. Net losses increased to $19.7 million from $2 million over the same period.
Internet Capital Group
, a venture capital firm, owns 21% of Universal Access, while
Some of its competitors include telecommunications providers like
In contrast to Universal's performance, shares of Netpliance rose 4 1/16, or 22.5%, to close at 22 1/16 Friday.
Netpliance offers Internet-based content, applications and services through devices designed for Internet access, commonly known as Internet appliances. Netpliance's i-opener is a service that allows users to access the Internet for $21.95 a month without a dial-up connection and personal computer.
i-opener takes the user directly into a portal tailored to the user's age and geographic location and links to consumer content and e-commerce sites.
Donaldson Lufkin & Jenrette
led the offering of 8 million shares, priced at $18 apiece, which raised $144 million. Initially, Netpliance planned to sell just 7 million shares for $13-$15 a share.
Netpliance currently makes all its $27,000 in revenues from monthly subscriptions. The company has a total debt of $43.5 million.
The company expects to bring in additional revenue from licensing its technology, selling advertisements and from revenue sharing on e-commerce transactions.
Still it will be an uphill battle against dominant Internet portals like
( LCOS) and
that attract the bulk of the advertising money.
Netpliance made strides in the right direction in December when it entered into an agreement with
, an affiliate of
, under which GO.com acts as the exclusive provider of specified content.
U S West
will also offer its customers a connection to i-opener through dial-up and digital subscriber lines.
Watershed Capital owns about 12% of the company and U S West owns another 4%.
, a manufacturer based in Taiwan, produces the i-opener Internet appliance.
And shares of Integrated Information Systems rose 5 15/16, or 40%, to close at 20 15/16.
The Tempe, Ariz.-based company helps convert the way companies do business to the Internet. It uses its service Dimensions to conceptualize, enhance, and implement Internet transactions.
led the underwriting of 4.6 million shares at $15 each, bringing in $69 million. The initial pricing range was $12-$14.
Integrated has relationships with technology companies
For the nine months ended Sept. 30, Integrated reported that its revenues grew 176%, to $14.7 million, and that it earned $772,000.
Cambridge Technology Partners
( CATP) and