November 4, 1999 4:05 PM PST

Demand pushes up Webvan IPO price range

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After several delays, Webvan today priced at $15 a share, the high end of its pricing range.

The pricing comes after Goldman Sachs, the lead underwriter for one of the year's most-watched initial public offerings, earlier today raised the price range on the shares to $13 to $15 from $11 to $13.

Webvan will begin trading tomorrow under the ticker "WBVN."

The company sold 25 million shares, raising $375 million. Webvan shares were expected to be priced yesterday, but Goldman Sachs pushed the plans back by one day.

The shares were initially scheduled to be sold to investors last month, but the Securities and Exchange Commission stepped in and called for a cooling off period.

Regulators were concerned about apparent violations of restrictions on what companies can say prior to an IPO. Webvan addressed the concerns by filing an amended prospectus with the SEC.

 

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