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Technology Stocks : COMS & the Ghost of USRX w/ other STUFF
COMS 0.00130-58.1%Nov 14 9:30 AM EST
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To: DMaA who wrote (19812)12/13/1999 6:27:00 PM
From: Moonray  Read Replies (2) of 22053
 
3Com Files for IPO of Stock in Its Palm Inc. Organizer Unit
Bloomberg - 5:55 PM EST

Washington, Dec. 13 (Bloomberg) -- 3Com Corp.'s Palm Inc.
unit, the No. 1 electronic-organizer maker, filed for an initial
public offering of stock, giving investors a way to benefit from
3Com's fastest-growing business.

Palm, which 3Com expects to spin off six months later to
shareholders of the No. 2 maker of computer-networking equipment,
filed with the Securities and Exchange Commission to sell common
stock. Palm registered for the sale of $100 million worth of
stock. The filing, though, gave no details about precisely how
many shares the company hopes to sell or how much the IPO would
raise.

More than five million Palm devices, which let users input
phone numbers and memos on a liquid-crystal screen with a stylus,
have been sold since their introduction in 1996. In recent
months, 3Com has licensed the Palm operating-system software to
high-profile licensees like Nokia Oyj and Sony Corp.

3Com shares rose 1 3/4 to 44 13/16. The shares have risen 64
percent since 3Com said Sept. 13 that it planned to spin off
Palm.

COMS at 48 after-hours at 6 PM EST.<yawn>

o~~~ O
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