Alamosa Higher After Cutting Size of Offering

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Alamosa Holdings


reduced the number of shares to be sold in a planned public offering to 4 million from 8 million.

The news sent the price of the company's shares up 18 cents, or 1.2%, to $15 in the premarket session. Alamosa is a Sprint wireless service provider based in Lubbock, Texas.

The company eliminated the part of the offering representing newly issued shares and now will receive nothing when the deal is sold. The other 4 million shares are being sold by existing stockholders.