Stock Watch: Kana Communications IPO Looks Hot

The initial public offering of Kana Communications, which develops customer service software for e-commerce business, should have a strong showing when it opens for trading today. Pre-IPO demand was high with the offering being priced at $15, the top end of its revised range, after an original range of $11 to $13.

The relatively thin float of 3.3 million shares being offered, and a strong underwriting team of Goldman Sachs, Hambrecht & Quist and Wit Capital, should help shares of Kana open at a healthy premium. The company’s impressive customer base will only help it with investors. Kana’s customers include e-commerce heavyweights such as eBay,, CDNow and Other customers include portal sites such as Excite and, as well as big content sites such as and iVillage.

In a month of big IPOs, Kana’s looks like it could be one of the biggest.

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