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Wired Ventures files papers for IPO

Wired Ventures, publisher of Wired magazine, filed papers for an initial public offering.

Wired Ventures, publisher of Wired magazine and its online offshoot HotWired, has filed papers for an initial public offering that could raise more than $75 million, according to today's San Francisco Chronicle.

The company filed documents with the Securities and Exchange Commission yesterday to sell more than 6.3 million shares to the public at $12 a share.

The IPO filing estimated the publishing company's value at $450 million despite losses of $6.5 million in 1995 and $3.4 million in the first quarter of 1996, the newspaper reported.