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Non-Tech : DaisyTek (DZTK) Nasdaq

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To: EACarl who wrote (14)12/5/1999 1:22:00 AM
From: Glenn Petersen  Read Replies (1) of 19
 
Congrats. I underestimated the strength of the PFSW IPO.

The market seems to be currently discounting DZTK's PFSW holdings by about 60%. DZTK is holding 14.305 MM shares of PFSW. That works out to .83 PFSW shares for each of the 17,173,952 DZTK shares that are currently outstanding. Based on PFSW's closing price of 42 5/16, that works out to a gross value of $35.12 for each DZTK share. Discount that by 60% and you are left with $14.05. Add another $10 for the value of DZTK's core business and you have approximately $24 of value, which ties in nicely with Friday's close of 24 1/8.
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