Cybersurf (CY.A) - Bridge between 20th & 21st Centuries Message Board

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Gold/Mining/Energy : Cybersurf (CY.A) - Bridge between 20th & 21st Centuries

CY 23.82

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Apr 16 5:00 PM EST

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To: CocoBob who wrote (2147)	7/24/1999 8:14:00 AM
From: LABMAN	Read Replies (2) of 3243

from the LONDON TIMES RE: FREESERVE July 24 1999 BUSINESS NEWS Freeserve shares predicted to rocket on debut BY SAEED SHAH FREESERVE, the Internet service being floated by Dixons, looks set for a sparkling debut on Monday after prices quoted on the grey market shot up yesterday. City Index, the spread betting firm, was last night quoting Freeserve to finish its first day of trading at 209p to 215p, up from a spread of 189p to 197p on Thursday. That would appear to predict the shares rocketing to a premium of more than 50 per cent to the indicative price signalled by Freeserve's advisers of 130p to 150p. The price on the grey market has been driven up by reports that the offer has been ten times oversubscribed by institutional investors. The £1.3 billion-plus initial public offering of 18.25 per cent of Freeserve's shares, closed to institutions at 5pm yesterday, having closed to retail investors the previous day. The grey market activity is likely to mean that the offering will be priced near the top of its flotation range. Miles Saltiel, analyst at WestLB Panmure, said: "The grey market is telling us that the launch is going to be a success. I expect the stock to go to around 215p on Monday. It's the first major Internet offering in Britain and it's a retail brand that everybody knows. It's caught the market's imagination." Next page: Come clean, travel agents told

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