Lucent Technologies, the US software company, has been forced to halve the price of the initial public offering of Agere Systems in a critical test of investor appetite for technology stocks.

The deal was due to be the second biggest IPO in the US and so can also be seen as an indicator of market sentiment towards the pipeline of technology offers in Europe.

Shanny Basar

Morgan Stanley

Goldman Sachs

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Todd replaces Camilla Stowell who left the NatWest-owned wealth in January

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Lucent halves Agere IPO price range

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