ADVV (Advantage Technologies) - formerly CSIN Message Board

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Non-Tech : ADVV (Advantage Technologies) - formerly CSIN

ADVV 0.750

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Sep 27 5:00 PM EST

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To: Dave Gore who wrote (257)	6/18/1999 8:44:00 AM
From: Whisperer!	of 483

Packer cashes up for more Internet action By LACHLAN JOHNSTON Mr Kerry Packer has joined the Internet gold rush, floating off a slice of his $800 million online player, ecorp, to raise money for further cyberspace ventures. But small investors who have fuelled the Net stock boom worldwide will barely get a look in on the $161 million float. Shareholders in Mr Packer's majority controlled Publishing and Broadcasting and its subsidiary Crown will get priority. His private company, Consolidated Press, will also get a sizable parcel in exchange for selling ecorp its ticketing business, Ticketek, for up to $62 million. Packer's ecorp is typical of the new breed of Net companies where shares are priced on the bluest of blue sky potential and profits don't enter the equation. The float prospectus forecasts that in its first two financial years ecorp will have racked up about $40 million of losses. Nevertheless one broker said yesterday that the shares will be "as hot as a stove". The main asset of ecorp is ninemsn, a popular Web site known as a portal that is half owned by Microsoft, which seeks to earn revenue from advertisements.

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