Buying IPOs on the open market Message Board

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Technology Stocks : Buying IPOs on the open market

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To: rdmsqito who wrote ()	12/11/1999 1:14:00 PM
From: edkaiser	of 5529

XPDR ipo - MMWW spin-off XPDR is set to ipo next week. It is a competitor to Proxicom, Scient & Viant, and had $72MM revenue in 1998. After the IPO, MMWW will retain 80% of the shares with plans to distribute to shareholders in 2000. It's pricing range right now is 14-16, which at 50MM shares outstanding will give it a market cap of at least $700MM. At 30/sh, which I think is fairly conservative for first day trading, mkt cap is $1.5 billion. MMWW portion of that would be 80% or 1.2 billion. Total market cap of MMWW at market close on Friday, however, was only 1.3 billion. I've had nice trades this past month on DZTK and MIHL based on similar relationships in the PFSW and OPTV ipos.

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