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Financial services provider Penson Worldwide sets terms

May 1, 2006

Penson Worldwide, a provider of securities-processing infrastructure products and services, plans to offer 7.5 million shares (1.2 million insider shares) at a range of $15 to $17. Assuming the stock prices at the midpoint, the company will have an initial market capitalization of $386 million. JPMorgan and Credit Suisse will lead manage the deal. Timing has yet to be determined.