Peter, Peter, Peter....did you not read the prospectus? Your friend that works for Creo could be looking for some help from those that might be coaxed into buying up this offering. I have learned that the way most employees of Creo are being paid for their overtime, is with company stock options as they prepare technology for DRUPA.
Now, gaze at these facts, copied from the Creo prospectus and refigure your EPS and then apply your P/E.....
Common shares offered by Creo.................................. 4,000,000 shares
Common shares offered by the selling shareholders........1,000,000 shares
Total............................................................................ 5,000,000 shares
Common shares to be outstanding after the offering......32,027,854 shares
Under Risk Factors.......
A total of 27,027,854, or 84.4%, of our outstanding shares are restricted from immediate resale but may be sold into our public trading market following the completion of this offering.
Under Dilution...........
Existing shareholders......... 28,027,854 - 88% at price of $ 2.82.
New investors................. 4,000,000 - 12% at price of $15.00. ---------- --- --
Total....................... 32,027,854 100% 100% - $ 4.34
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Sales of common shares in the offering by the selling shareholders will reduce the number of shares held by existing shareholders as at March 31, 1999, to 27,027,854 shares or 84.4% of the total number of common shares outstanding after the offering (26,277,854 shares or 82.0% if the underwriters' over- allotment option is exercised in full) and will increase the number of shares held by new investors to 5,000,000 shares or 15.6% of the total number of common shares outstanding after the offering (5,750,000 shares or 18.0% if the underwriters' over-allotment option is exercised in full). See "Principal and Selling Shareholders."
Hope this helps.......and stay away from new issues until you read the prospectus for any new stock.
Neil |
