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SAP-SI closes IPO books early on high demand

Commerzbank Securities and HypoVereinsbank are closing the books two days early on the initial public offering for SAP-SI, the consultancy group spun off by German business software firm SAP, after demand for shares exceeded expectations.

Bookbuilding for SAP-SI, which is to be listed on Germany's Neuer Markt, was originally scheduled to close on September 8, with Commerzbank in London and HypoVereinsbank in Munich leading the deal. Pricing was planned for next Tuesday.

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