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Technology Stocks : VersaTel Telecom International NV-(VRSA)

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To: LKO who wrote (8)	7/21/1999 4:14:00 PM
From: Mohan Marette	Read Replies (2) of 73

VersaTel to issue more shares than planned-ING AMSTERDAM, July 21 (Reuters) - Dutch telecommunications network firm VersaTel will issue 19 million new shares -- one million more than originally planned -- when it lists on the Amsterdam bourse and on Nasdaq later this month, financial group ING said on Wednesday. The total size of the offering is unchanged at 21.25 million shares, with the secondary offering expected to amount to 2.25 million shares instead of an earlier announced 3.25 million. ING gave no reason for the changes. VersaTel said earlier this month it planned to list at eight to 10 euros ($8.3-$10.4) in Amsterdam and on Nasdaq. The company, whose revenues climbed to 15.5 million guilders in the first quarter of 1999 from a year-earlier 6.4 million, focuses on providing small and medium firms with broadband links. Launched some three years ago, VersaTel has expanded into Belgium in 1998 and raised 800 million guilders in loans in the United States. This year, it has acquired four internet companies as well as network services firm Svianed BV. NESBIC, a venture capital unit of Dutch-Belgian financial services group Fortis , currently holds a 39 percent stake in VersaTel. Belgium's Compagnie Benelux Paribas (Cobepa) owns 18.7 percent and Dutch venture capital firm NPM has a 6.1 percent interest. biz.yahoo.com Telecom founders, an investment vehicle of VersaTel's management and staff, owns 17.4 percent of the shares.

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