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Technology Stocks : Nortel Networks (NT)

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To: hari t who started this subject	8/2/2003 1:10:02 PM
From: Kenneth E. Phillipps	Read Replies (3) of 14638

I knew Netgear when... It must have been tough for executives at Nortel Networks Corp. to watch the wildly successful initial share offering of its former small-business unit, Netgear Inc., this week. Nortel sold the last of its stake in Netgear to a collection of private equity investors almost a year ago, receiving a total of US$83-million for the company, which sells computer networking equipment for small businesses and home offices. This week's coming out party for Netgear represented a massive jackpot for Pequot Capital Management, Shamrock Capital Partners and the other private funds that bought it from Nortel. The offering was originally priced at US$10 to US$12, and was eventually raised to US$14, valuing the company at US$378-million. When the shares hit the market on Thursday, they immediately spiked to US$19.25, giving the company a market value of US$523-million. The shares settled back to the US$17 range by the end of the week, meaning the company's majority owners are currently sitting on a gain of more than 450% on their investment. nationalpost.com

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