Global Crossing - GX (formerly GBLX) Message Board

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Technology Stocks : Global Crossing - GX (formerly GBLX)

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To: John Biddle who wrote (4698)	3/3/2000 5:42:00 PM
From: jerryriti	Read Replies (3) of 15615

Regarding GBLX's intention to create a tracking stock for Global Centers, am I correct in my assumption that a certain percentage of that tracking stock will be sold to the public through an IPO and the remainder retained by GBLX; or, is it possible that current shareholders will participate via a rights offering? I assume that the goal will be to raise as much capital as possible and it would seem that each of the above options would accomplish the same end, but with a rights offering, current shareholders would be in a better place! Am I thinking about this with sufficient clarity or missing something? GBLX has generally been considered to be shareholder friendly so I am hoping for a rights offering. Only advantage to an IPO would seem to be that the investment bankers could test the waters and raise the price if the climate were right! I have to assume that GBLX will have to go the route that raises the greatest amount of $ but if all things were equal, I imagine a rights offering would be preferred by shareholders. Am I missing something or do I have the whole scenario wrong?

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