The old price range of $19 to $22 per share has been increased to $26 to $28, the company said in a Securities and Exchange Commission filing today. As a result, the company could raise $1.82 billion, up from the previous estimate of $1.25 billion. Increasing the price range often indicates strong demand for the stock.
Agilent, a company Hewlett-Packard is spinning off, has increased the number of shares it will sell from 57 million to 65 million, the company said.
Though HP will own about 85.4 percent of Agilent's stock after the IPO, HP plans to divest its stake by mid-2000, the company said.
Agilent makes equipment to test electronic devices and chemical processes, medical monitoring equipment and cardiology products. It also develops electronic components for equipment such as high-speed fiber-optic networks.