Talk City, Online Community Operator, Raises $60 Mln in IPO
Bloomberg News
July 20, 1999, 7:29 a.m. PT
Talk City, Online Community Operator, Raises $60 Mln in IPO
Campbell, California, July 20 (Bloomberg) -- Talk City Inc.,
which runs chat rooms and also develops online communities for
other Internet companies, raised $60 million in an initial stock
sale.
The Campbell, California, company, based near San Jose, sold
5 million shares at $12 each, raising $60 million. The shares
were sold at the top of the $10-to-$12 range set by Lehman
Brothers Inc., which handled the transaction. The sale
represented a 21 percent stake and gave the company a market
capitalization of $290.1 million.
Talk City will trade under the symbol ''TCTY'' on the Nasdaq
Stock Market. Volpe Brown Whelan & Co. and U.S. Bancorp Piper
Jaffray assisted in the sale. |
