Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 159.42

-1.2%

Jan 16 9:30 AM EST

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To: Uncle Frank who wrote (77653)	7/25/2000 8:55:48 AM
From: Ruffian	Read Replies (3) of 152472

Qualcomm Files With SEC to Sell Stock in Semiconductor Business By Miles Weiss Washington, July 25 (Bloomberg) -- Qualcomm Inc. filed with the Securities and Exchange Commission to sell stock in a subsidiary that manufactures semiconductors and software for wireless voice and data communications products. Qualcomm, based in San Diego, will follow up the stock sale by distributing its remaining shares in the chip unit to Qualcomm shareholders, according to a registration statement filed with the Securities and Exchange Commission. The parent company expects the distribution to take place by August 2001. Qualcomm developed wireless technology, known as code division multiple access, that is used by 57 million people worldwide. The company announced last week that chip shipments could decline 20 percent in the fiscal fourth quarter because of plunging demand in South Korea, its biggest market. The company estimated that the stock sale would raise $100 million. However, this may be a nominal figure used to initially calculate the SEC registration fee, and the actual size of the offering could be larger. Qualcomm's current market value exceeds $47 billion. Lehman Brothers and Goldman, Sachs & Co. will underwrite the stock sale, which was filed with the SEC under the name Qualcomm Spinco Inc. The semiconductor unit will seek to have its shares trade on the Nasdaq Stock Market.

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