NEW YORK (
is surging as it begins taking orders for its new e-reader.
Borders will also launch an e-book store and software in June. The Kebo e-reader is cheaper than other similar devices like
Barnes & Noble's
Nook, retailing at $149.99. The other two e-readers both sell for $259.
Borders will begin selling the device in stores in August. Pre-ordered Kebos are expected to arrive on June 17.
Shares of Borders are gaining 7.3% to $2.22 in afternoon trading.
-- Reported by Jeanine Poggi in New York.
Follow TheStreet.com on
and become a fan on
Battle of the Bookstores