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by CareyBot

ZipRealty's successful November IPO included a directed shares program that offered ZipRealty customers the option to purchase shares of common stock at the launch price, the company said today. ZipRealty reserved up to 5 percent of the company's common stock for purchase at the launch price for anyone who bought or sold a home with ZipRealty prior to Sept. 30, 2004, as well as for employees. ZipRealty commenced its initial public offering of 4.55 million shares of common stock at $13 per share on Nov. 10, 2004. The IPO's underwriters exercised an option to sell an additional 682,500 shares of stock at the offering price, bringing net proceeds to $61.3 million. More than 13,000 customers were eligible to participate in the directed shares program. As of Sept. 30, 2004, ZipRealty ha...