Net Security Company Cylink Plans IPO

Cylink Corporation, a company that produces network security encryption products, has filed to sell 4.3 million shares of common stock through an initial public offering. The shares being offered amount to 18.4 percent of the company's 23.38 million shares outstanding.

According to a statement filed with the Securities and Exchange Commission last week, Cylink plans to sell the stock at $8 to $10 a share.

Cylink entered into a joint partnership earlier this month with Cisco Systems to develop a family of LAN and WAN security products. The company also has licensing agreements with Intel and Microsoft.