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To: ms.smartest.person who wrote (29)	1/11/2001 12:04:51 PM
From: ms.smartest.person	of 2248

AltaVista withdraws IPO REUTERS in Washington -------------------------------------------------------------------------------- Updated at 9.34am: Popular Internet portal AltaVista overnight (HK time) withdrew its plan for an initial public offering of 14.8 million shares of its common stock, citing unfavourable financial market conditions. ''The company is requesting withdrawal of the registration statement due to continuing unfavorable conditions in the financial markets,'' the Palo Alto, California-based company said in a filing made with the US Securities and Exchange Commission. CMGI, an Internet holding company, holds an 81.6 per cent stake in AltaVista, according to an April 2000 IPO prospectus. Personal computer maker Compaq Computer owns 18.2 per cent of AltaVista stock. AltaVista, which was seeking a Nasdaq listing under the symbol ''ALTA'', had estimated a price range of $18 and $20 a share. The underwriters, led by Morgan Stanley Dean Witter, had to option to buy 2.22 million extra shares to cover over-allotments. Chase H&Q, Robertson Stephens, Prudential Volpe Technology and Wit Soundview were also underwriters. biz.scmp.com

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