to continue...
Found the ALTA IPO info.(Feb 11, 2000 news):
14.8M IPO at 18-20$
148.3M shares outstanding
73.8% owned by CMGI - 109,445,400 sh
16.2% owned by CPQ - 24,024,600 sh
(MSDW may add 2.22M towards IPO, if additional interest)
Let's, for simplicity use a hidden value of 11 B$ for private CMGI properties (avg. 2 months). Assume (wimsically) half of this value represents ALTA, i.e. 5.5B$.
The current value of ALTA share is discounted to 50.72 $.
(CPQ's value, 1.218 B$; hard to see this effect in CPQ cap of 48.5B$)
Floats, % owned/CMGI, shares/CMGI:
ENGA - 3.30Msh, ????%, 72.4Msh
NAVI - 5.50Msh, 69.5%, 19.5Msh
ALTA - 14.8Msh, 73.8%, 109.4Msh
PS - Appologia: earnings.nasdaq-amex.com and yahoo sites disagree about total outstanding ENGA shares (41M, 54.2M, respectively); on the other hand Zen's table had 72M owned by CMGI. ENGA never split. Does anybody know the mechanics of the fundamental numbers being updated. If ENGA is smaller outstanding, the hidden CMGI value might be about 2B$ higher. Would that make ALTA discounted share about 63$?
Seems earnings.nasdaq-amex.com and yahoo agree about NAVI outstanding at 28.1M, but disagree about float (4M, 3.3M, respectively). |
