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Chris_R - 1:21 am on Aug 19, 2004 (gmt 0)
It is doubtful that the auction was exactly at $85.00. Maybe it was. I have a feeling there was either a discount in there - or more shares being issued - or both - to bring the price to that amount. This is just a thoery. At $85.00 they have a great market cap and will be inall sort of index funds soon enough. The fact that it went for that much proves the auction process works - no matter how hard people on wall street didn't want it to. That a stock is sold for what it is worth is somehow ripping off people is beyond me.
It isn't certain that trading will start tomorrow. It is 9:15 PM and I still don't have shares showing in my account.