IDT's Net2Phone Subsidiary Files for an Initial Public Offering of Common Stock
net2phone.com
HACKENSACK, NJ -- May 18, 1999 - IDT (NASDAQ: IDTC) today announced that its subsidiary, Net2Phone, Inc., has filed a registration statement with the Securities and Exchange Commission for an initial public offering of common stock.
Net2Phone is a leading provider of voice-enhanced Internet communications services to individuals and businesses worldwide. Net2Phone enables people to place low-cost high quality calls from their computer, telephone, or fax machine to any telephone or fax machine in the world. By routing calls via the Internet, Net2Phone enables users to save up to 95% off international phone rates. Net2Phone develops and markets technology and services for IP voice and e-commerce solutions for the web and other IP networks.
A registration statement relating to Net2Phone 's common stock has been filed with the Securities and Exchange Commission but has not yet become effective. Shares of common stock of Net2Phone may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. The offering will be made only by means of a prospectus.......(Source:Company Website)
Status/Tentative Pricing: JUL 12 wk
Lead Underwriter: HAMBRECHT & QUIST LLC
Exchange: NASDAQ
Ticker NTOP
Price: $10-$12
Shares: 4,800,000 |
