Investors Not POSitive On VeriFoneIPO

WALL STREET - (05/02/05) -- VeriFone, the manufacturer of theubiquitous credit card approval devices, raised more than $175million Friday with an initial public offering after cutting theprice on its shares to $10, from a hoped-for $12-to-$14. VeriFoneCEO Doug Bergeron, who led the 2001 leveraged buyout of the firmfrom Hewlett-Packard, rang the opening bell on the New York StockExchange, where the shares will be listed under the symbol 'PAY'.VeriFone is the leading maker of credit card readers at thepoint-of-sale and has shipped about 11 million card readers sinceit was founded in 1981.