Plillip & everyone,
How is this sale going to affect the AAPL balance sheet? Does ARM have good investment potential?
infobeat.com
08:16 AM ET 03/17/98
UK's ARM Holdings seeks stock market flotation
LONDON, March 17 (Reuters) - Microprocessor designer ARM
Holdings Plc on Tuesday announced plans for a stock market
flotation in which 38 percent shareholders Acorn Group Plc
and Apple Computer would sell part of their
holdings.
ARM said it would seek a listing on the London Stock
Exchange (LSE) and a quotation for American Depositary Shares on
the U.S. Nasdaq market.
Acorn said it, Apple and other corporate shareholders
including VLSI Technology would each sell an initial
16.7 percent of their holdings.
ARM said it planned to make a global equity offering of
about 40 million pounds, with a primary issue of 20 million. The
new funds would be used for general working capital, ARM said.
The offering will be co-ordinated by Morgan Stanley Dean
Witter, with a price range expected to be in a range between 325
pence and 385 pence, valuing ARM at between 145 million pounds
and 175 million.
The company designs power-efficient microprocessors, related
technology and software and sells development systems to enhance
the performance of multimedia applications.
Established in 1990 from Acorn's microprocessor group, ARM
raised pre-tax profit 35 percent in 1997 to 5.0 million pounds,
on turnover up 59 percent to 26.6 million.
((Braden Reddall, London newsroom, +44 171 542-7717 fax +44
171 583-3769, ukequities.news@reuters.com))
Still sippin',
HerbVic |
