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Gold/Mining/Energy : Mainframe Entertainment (ReBoot/Beasties)
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To: Richard Lam who wrote (60)5/30/1997 1:53:00 PM
From: D.E. Shetland   of 459
 
I don't know it yet, but I would imagine it will be in the C$9.75 to 10.25 range. The buyers (re:Canadian Institutions) usually get there way in IPOs up here. They'll want to make at least 25% (and hope for 50%) return for a small issue like Mainframe.

Given the demand and the reasonable valuation on it and the potentially huge upside when they announce the final distribution deal on the movie, I would imagine institutions will try to hog this one and low ball it. Frankly, anything less than $11 leaves plenty of upside, but they'll probably demand as low as they can get. It might even go a bit below $10, at which point it's a huge steal. Back up the pick-up truck and load it in at that price. We should know early next week I suppose.

Only other news is that the TV shows continue to get very good ratings which bodes well for higher syndication and international fees down the road.
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