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USi to split common stock 3 for 2

Application service provider USinternetworking announces plans for a 3-for-2 stock split.

USinternetworking said yesterday it would split its common stock later this month.

The company announced a 3-for-2 stock split under which shareholders will receive one additional share of common stock for every two shares they own as of market close on Dec. 3.

The additional shares will be distributed on or about Dec. 17, the company said.

Upon completion of the stock split, USinternetworking will have about 60.9 million shares of common stock outstanding.

USinternetworking provides and supports packaged software applications that can be accessed and used over the Internet.

The company went public earlier this year. The stock closed yesterday at 54.81, and has traded as high as 74.5 and as low as 14.31 since going public.