Gemplus (GEMP) Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Gemplus (GEMP)

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: caly who wrote (40)	12/12/2000 8:36:41 AM
From: Eric L	Read Replies (2) of 115

>> Gemplus Shoots Higher In Bourse Debut December 11, 2000 07:58:00 AM ET Reuters Gemplus shares rocketed in their Paris bourse debut on Monday as investors rushed for a share in the world's leading maker of smart card technology at an attractive offer price, traders said. Gemplus shares shot up 18.33 percent to 7.10 euros by 1235 GMT, boding well for the firm's listing on the U.S. Nasdaq later on Monday, as investors sensed a bargain after the firm revised down the original terms of its initial public offering. "The share was introduced with ratios that were rather conservative considering the value of the company," said one analyst. Gemplus cut its offering's indicative price earlier this month to 5.75-6.25 euros from an original 7.25-8.25 range as losses on the U.S. Nasdaq and European equity markets clouded the outlook for technology initial public offerings (IPOs). Traders said the lower offer price and the improved U.S. interest rate outlook in the last week had convinced investors that Gemplus offered strong longer-term earnings potential as well as an attractive trading play. "The IPO has come at a good time -- a couple of weeks ago the market was full of short-term traders, but now the market's turned around investors are looking for fundamental value," said an equity salesman at a French brokerage. "Gemplus shares should hold these gains," he said. Gemplus develops smart SIM cards for third generation mobile handsets and multi-application chip cards that are planned to serve as electronic purses, secure ID cards and phone cards rolled into one. << Gemplus closed Monday at 13 3/8 on Nasdaq. The days low was 10.67. - Eric -

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next