EBAY's Passe? New Auction Sites Message Board

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Technology Stocks : EBAY's Passe? New Auction Sites

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To: Old Stock Collector who wrote (32)	2/12/1999 1:12:00 PM
From: lindalib	of 91

Here's an auction IPO, but not a nut...yet. [B] Butterfield & Butterfield to offer 1.5 mln shrs in IPO [.21767] By Bridge/Indepth News Washington--Feb 12--Butterfield & Butterfield, Auctioneers Corp., today filed to offer 1.5 million common shares for its initial public offering, according to a Securities and Exchange Commission filing. * * * It expects the initial offering price will be between $10 and $12 per share. Established in San Francisco in 1865, the company is the third largest auction company in the US. Butterfield & Butterfield will use the net proceeds to fund corporation dividends to stockholders, for expansion, working capital and for general corporate purposes. S corporations are not subject to income tax on a corporate level. The company will change its status to a C corporation, which is subject to income tax. It also registered 225,000 more shares for the underwriter's over-allotment option. First Security Van Kasper was listed as the underwriter. End Bridge News, Tel: (202) 628-1231 Send comments to Internet address: debt@bridge.com Feb-12-1999 13:00 GMT Source [B] BridgeNews Global Markets Categories: CAP/STOCKS CAP/INDEX MR/NEWS

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