MRV shares jump on unit’s IPO plan
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From Times Wire Services
Shares of MRV Communications Inc., a Chatsworth-based maker of fiber optic equipment, rose the most in more than four years after its Source Photonics unit announced plans to raise as much as $130 million in an initial public offering.
MRV advanced 44 cents, or 21%, to $2.50, the biggest gain since July 2003. The shares have fallen 29% this year.
Source Photonics makes equipment that helps companies offer services such as streaming video and Internet calling.
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