Taken from DBC Newsroom this evening:
"NEW YORK (DBC) -- Eight new issues are expected to price this week as the IPO market takes a breather after the July 4th holiday. However, two of the IPOs are expected to generate a good deal of attention: @Home and Equity Office Properties Trust.
@Home, started by John Doerr and William Randolph Hearst III, both of the Kleiner Perkins Caufield & Byers venture capital firm, hopes to be the leading provider of Internet services via thecable infrastructure by leveraging its privately owned "parallel Internet" network, which the company says can transfer information at up to 300 times the speed of a 28.8K modem.
The company plans to offer 8 million shares between $7 to $9 each. For the three months ended March 31, 1997 the company lost $11.7 million on $806,000 in revenue. According to thecompany's June 20 filing with the SEC, @Home only has 6,000 paying subscribers. At an $8 trading price, the company will have a market value of almost $950 million, not including outstandingoptions. Morgan Stanley is the lead underwriter. "
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