Last Friday, the initial public offering of online music software company and distributor Liquid Audio was warmly welcome by Wall Street, as shares of the IPO, which were priced at $15, climbed 21-9/16 to 36-9/16. Today, another audio-related IPO is expected to make a lot of noise.
Analysts predict that today’s IPO of Audible, Inc., which offers premium spoken audio content for playback on personal computers and mobile devices, will see a big pop. Ben Holmes of ipoPros.com has given the Audible IPO his top rating and expects to stock to trade at least five points higher than what it priced at. Holmes gave Liquid Audio the same rating last week.
Shares of Audible, which has Microsoft and AT&T as shareholders, have been priced at $9, the middle of its range. Four million shares will be offered.