Juno to put extra shares on the market
Just days after its stock went sky-high on plans to offer free service, the Internet access provider says it intends to offer additional shares to the public.
The company did not disclose the number of additional common stock that would be offered, saying it plans to file a registration statement with the Securities and Exchange Commission some time after Jan. 1, 2000.
Earlier this week, Juno sparked renewed investor interest in Internet service providers offering free access plans. Investors are primarily swayed by the potential of signing up additional subscribers who may engage in e-commerce and at least let ISPs generate greater advertising revenue. Shares of NetZero, which also offers free access, also got a boost from the attention on free-access services.
Applying greater pressure on dominant online services provider America Online, Juno on Monday said it planned to broaden its offerings to include a free advertisement-supported Internet access service and lower-cost monthly services. Over the course of the past few days, Juno shares more than doubled, closing yesterday at 61.25 after reaching as high as 87.