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Technology Stocks : Orckit (ORCT)
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To: Daniel Ralls who wrote (1717)6/18/1999 10:14:00 AM
From: savolainen  Read Replies (4) of 1998
 
[faster than a speeding bullet]

hi daniel

faster than a speeding bullet, more powerful than a locomotive ... its a bird its a plane... its a.. 2-million-share-offering-by-orct!! if anyone blinked they might have missed it... ;)

and in case people haven't seen this:
"...Deutsche Bank approached Orckit a month ago, with the suggestion of holding a public offering in Frankfurt, Germany. Deutsche Bank is underwriter to Deutsche Telekom, the German national telephony company..."

globes.co.il

don't think i understand "Equity-Overnight" a new concept in public offerings... if you (or anyone else) can explain the mechanics would appreciate it.. this one all might have been very straightforward, but am having a hard time not suspecting that this might have been a clever way for a unnamed party to take a stake in orckit without having to reveal their identity... kinda like a public private offering... with no need to file any paperwork

and there certainly does not seem to have been any lack of interest... the shares seem to be gone, and only cibc was involved.. all this without a road show... the offering was announced at 9:00 PM and completed @ 10:00 AM the next day... and they're gonna get around to printing those prospectuses eventually i was promised...

by way of context last june's offering @ 18 (also 2 million shares) was in trouble til clal stepped in and that was with a road show and all..

when i called cibc... was told that this offering was handled as a block trade with cibc buying them all..

did someone eat the whole thing?...if so, maybe dt? fujitsu? etc

bye
s
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