Additional purchase of NDB news story here
National Discount investors buy additional shares
NEW YORK, April 3 (Reuters) - National Discount Brokers Group Inc. <NDB.N> on Monday said two key investors will exercise their rights to buy additional shares in the brokerage, raising their combined stake to 5.6 percent.
Go2Net Inc <GNET.O>, a Web sites' network, and its major shareholder, Microsoft <MSFT.O> co-founder Paul Allen, will exercise warrants to buy 500,000 National Discount shares at $33 a share, National Discount said.
The investors in February already bought 500,000 shares at $27 apiece, as part of a deal that links National Discount's Internet brokerage, NDB.com, with Go2Net's Web properties, which include the popular investing site Silicon investor.
National Discount's stock price has more than doubled since the announcement, and moved up an additional 1-3/8 to 50-3/4 in mid-morning trading on the New York Stock Exchange.
Go2Net and Allen, through his Vulcan Ventures investment firm will now own 1 million National Discount shares, or 5.6 percent of the outstanding stock.
13:27 04-03-00 |
