The Amateur Traders Corner 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.

Strategies & Market Trends : The Amateur Traders Corner

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Tom Hua who wrote (8831)	5/1/2001 8:30:56 AM
From: zx	Read Replies (1) of 19633

thanks, covered my jnpr short in premarket. am looking forward to ila and Reliant Resources IPO Gets $1.56 Billion NEW YORK (Reuters) - Reliant Resources sold 52 million shares at $30 to the public markets on Monday, raising $1.56 billion in one of the year's largest new stock offerings, a spokeswoman from the electric utility firm's parent company said on Monday. After several price hikes, as investors again warmed to a new energy issue, the shares of the Houston-based electric utility and unit of Reliant Energy Inc. (NYSE:REI - news), were priced in an initial public offering (IPO) at the high end of the amended price range of $28 to $30. Lead underwriter Goldman Sachs could not be reached for comment. Only a handful of billion-dollar IPOs have been completed in 2001. Agere Systems Inc. (NYSE:AGRa - news) raised $3.6 billion when it was spun off from Lucent Technologies Inc. (NYSE:LU - news) in March and KPMG Consulting Inc. (NasdaqNM:KCIN - news) completed a $2 billion IPO in February. On Friday Reliant Resources raised the estimate price range on its IPO to $28-$30 per share from $26-$30. The share price was originally set at $14-$19 in December. Reliant's IPO follows last week's offering by energy wholesaler Aquila Inc. (NYSE:ILA - news). Aquila's shares surged 16 percent when it debuted after a twice-boosted new stock offering that raised $420 million. Reliant Resources acquires and develops electric power generation facilities that are not subject to traditional cost-based regulation and, therefore, can sell power at prices determined by the market. Reliant is expected to debut on the New York Stock Exchange (news - web sites) on Tuesday under the symbol RRI (NYSE:RRI - news).

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next