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Technology Stocks : Orbital science (ORB)
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To: Nagaraju R. Arakotaram who wrote (1994)12/14/1998 4:52:00 PM
From: Beltropolis Boy  Read Replies (1) of 2394
 
via today's washington post. excerpted from an article on local IPOs.

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Jerry Knight
Washington Post Staff Writer
Monday, December 14, 1998

If the stock market holds up after the holidays, expectations are that IPOs and secondary offerings will resume around the end of the first quarter, with the strongest deal predicted to come back first.

The IPO of OrbComm, the joint venture between Orbital Sciences Corp. of Dulles and Canada's TeleGlobe, is one offering that probably could fly any time.

Since the IPO was postponed July 2, the company has moved from the start-up to the operational stage. The firm's $500 million constellation of 28 low-orbit satellites began operating Nov. 30 and is starting to generate revenue. The satellites provide global satellite e-mail and make it possible to track and communicate with equipment anywhere in the world. A shipping container equipped with an OrbComm receiver can be located regardless of whether it's on an ocean-going freighter, a train or rolling down the highway.

OrbComm's partners financed the system and still hope to take it public one day, Orbital Sciences spokesman Barron Benesky said. But there's no rush, he said. "OrbComm is not hurting for cash."

washingtonpost.com
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