Apalco Ent. (Insider) will be selling in 2 days, see below:
Ipalco Enterprises May Sell Investment in Internet Company
Ipalco Enterprises May Sell Investment in Internet Company
Indianapolis, Jan. 25 (Bloomberg) -- Ipalco Enterprises Inc. said it's strongly considering sell its stake in Internet Capital
Group Inc., a move that could produce a profit of more than $141 million for the Indiana utility owner.
Ipalco bought its stake in Internet Capital, a company that invests in closely held electronic commerce businesses, for $1.2
million. The stake is now valued at more than $143 million. Indianapolis-based Ipalco doesn't see Internet Capital as a
long-term investment, said Daniel Short, Ipalco's assistant treasurer. Under an agreement with Internet Capital, Ipalco can't
sell any of its 1.03 million shares until February. ``We are strongly considering liquidation,' Short said. The company bought its shares between September 1998 and
February 1999. Internet Capital, which is based in the Philadelphia suburb of Wayne, Pennsylvania, fell 4 5/8 to 138 7/8. Ipalco shares rose 1/4 to 19 1/16.
Ipalco, the parent company of Indianapolis Power & Light, also reported fourth-quarter net income of $29.3 million, or 34
cents a share, up from $21.7 million, or 24 cents a share. This beat the 30-cent a share average estimate of analyst polled by
First Call/Thomson Financial. Ipalco had 1999 revenue of $834.7 million.
Ipalco has 430,000 electric utility customers in Indiana. |
