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Non-Tech : London Pacific Group - LPGL doubles...
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To: rupert1 who wrote (221)4/19/1999 7:28:00 AM
From: rupert1   of 737
 
Reuters reports a new disclosure policy for LPGLY.

LONDON, April 19 (Reuters) - London Pacific Group Plc, the venture-capital-to-fund-management group, on Monday confirmed that two U.S. Internet-related stocks in which it holds stakes had filed for initial public offerings.

In a statement, the company said Ramp Networks and Net Perceptions -- in both of which its insurance unit London Pacific Life & Annuity Co held stakes -- had earlier this month registered for IPOs.

London Pacific -- whose shares more than doubled in value in the space of two days last week on talk that Internet-related companies in which it had invested would shortly float their shares -- said it would in future announce the registration for IPOs of companies in which it held stakes.

The statement said Ramp Networks, a provider of Internet addess devices, had registered for an IPO on April 16. It said Net Perceptions, described as a marketing solutions provider to real-time Internet retailers, was expected to price its offering this week.

London Pacific added that NetGravity Inc <NETG.O>, in which it had held a stake, had completed an IPO last year.

The statement gave no further detail.

Interest in London Pacific's holdings in Internet and other technology stocks helped spark a steep rise in the company's shares last week.

The company said unnamed investors appeared to have analysed its stakes and discovered that some companies were close to joining the market, a move that would highlight the value of London Pacific's holdings and boost the asset value of its shares.

Monday's statement went futher by officially naming the companies that had registerd for IPOs and by setting out a new disclosure policy.
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