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To: IngotWeTrust who wrote (26554)	7/25/2000 12:27:58 PM
From: Dealer	Read Replies (2) of 35685

QCOM--Tuesday July 25, 12:18 pm Eastern Time Qualcomm sees IPO for Spinco by fall NEW YORK, July 25 (Reuters) - Mobile phone technology company Qualcomm Inc. (NasdaqNM:QCOM - news) will carry out its initial public offering of its planned spinoff Spinco semiconductor business in the fall, Chairman and Chief Executive Irwin Jacobs said on Tuesday. He told a news conference Qualcomm would offer less than 10 percent of the planned spinoff's shares in the IPO, while Qualcomm retains the remainder of the shares. The offering will be followed by a six-month lockup period of the shares. Those shares then will be offered to Qualcomm shareholders. ``Sometime after that distribution, they would be completely separate companies,'' Irwin said. A Qualcomm spokesman later said the company expects the spinoff to be completed by August 2001 at the latest.

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