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In brief: Mips shares make sluggish start

By Tony Hallett

Published: 1 July 1998 11:51 BST

Mips Technologies - once a microprocessor arm of Silicon Graphics - made a lacklustre debut on the Nasdaq stock exchange on Tuesday. Shares were initially offered at $14, but closed at $13.44.

SGI's decision to spin off the company but hold on to the majority of its shares, was widely expected after it announced its intention to move forward with a dual-platform strategy, selling Intel-based systems running either Unix or Windows NT as well as Mips-based high-end systems.

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