Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 174.10

+1.1%

2:56 PM EST

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To: Jim Willie CB who wrote (36682)	7/21/1999 11:46:00 PM
From: Ruffian	Read Replies (2) of 152472

Q will have a "Ball"> Qualcomm Raises $1.1 Bln Through Sale of 6.9 Million Shares Qualcomm Raises $1.1 Bln Through Sale of 6.9 Million Shares San Diego, July 21 (Bloomberg) -- Qualcomm Inc., a developer of cellular-phone technology, said it sold 6.9 million shares of common stock for $1.1 billion as it became a member of the Standard & Poor's 500 Index. The company placed the shares in a public offering at $156.50 each through its underwriters, Lehman Brothers and Goldman, Sachs & Co. Qualcomm will use the proceeds for working capital and general purposes. On July 12 the company announced it would issue shares to meet the anticipated needs of index funds as it enters the S&P 500. Qualcomm replaced index member Transamerica Corp., which was bought by Aegon NV. A U.S. Securities and Exchange Commission filing said the company offered 6 million shares and reserved another 900,000 for underwriters' over-allotments. Qualcomm's shares fell 6 5/16 to 156 5/8. NYSE/AMEX delayed 20 min. NASDAQ delayed 15 min.

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