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@Home sets IPO range

An SEC filing puts the pricing range for the high-speed Net access provider's upcoming initial public offering at $7 to $9 a share.

@Home, a high-speed Internet access provider, today filed a pricing range of $7 to $9 a share for its initial public offering, according to a Securities and Exchange Commission filing today.

At $9 a share, @Home, which registered its IPO in May, could raise upwards of $72 million in capital from floating out 8 million shares. That's up from the $56 million the Net access provider would have raised with its earlier proposed price of $7 a share.

The company would also have a market value of $977.4 million with a $9 offering price. That brings @Home closer to the $1.07 billion valuation it had when it sold a 4.5 percent stake in the company to Sun Microsystems, Motorola, Bay Networks, Rogers Cablesystems, and Shaw Communications for $48 million.

@Home's filing comes on a day when Great Plains Software (GPSI) launched its highly successful IPO, further indication that the market is heating up for tech IPOs.

Other tech-related IPOs in the pipeline include offerings for technology-related publisher CMP Media and network and data center operator Concentric Network.

Last month, online bookstore (AMZN) and interface technology company Rambus (RMBS) launched initially successful IPOs. Currently, Amazon is trading at its IPO price, while Rambus' stock has rocketed up more than three times its initial price.

@Home, which is in a fast-growing market, lost $11.7 million on revenues of $806,000 for the quarter ending March 31. During 1996, the company posted a loss of $24.5 million on revenues of $676,000.

Underwriters in the deal include Morgan Stanley, Merrill Lynch, Alex. Brown, and Hambrecht & Quist.