By Ron Coates, 18 May 2001 12:47
NEWS The shares, priced at $14.50, are comfortably ahead of Reuters' expectations of $11.50 to $13.50 and will make the issue one of the biggest and most successful IPOs of the year so far. They will start trading on Nasdaq when the market opens later today. Reuters bought the 30-year-old company in 1987 for $102m and will pick up $150m of the sale proceeds to pay off inter-company debt. Last week, Instinet announced that it had agreed to buy Texas retail brokerage ProTrader for $150m. Late last year it shut down its own retail broking efforts.
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