More cash coming soon. I've lost count, but somewhere there is a pot of money waiting to be put to good use.
Globe and Mail- January 9th, 1999
"Tundra Semiconductor Corp. shares are expected to hit the market next month within a range of $8 to $9.50 (Can. $) it was reported yesterday. Tundra, the second Newbridge Networks Corp. affiliate to go public, hopes to sell about $45 million worth of shares - about $34 million from the company's treasury and the rest from a secondary offering. It will be listed on the TSE. The Kanata, Ontario based company, which outsources its manufacturing operations, designs and develops semiconductor chips. Its customers include Motorola Inc., Northern Telecom Ltd. and its parent firm, Newbridge Networks. Crosskeys Systems Corp., another Kanata-based Newbridge affiliate, went public in December, 1997."
My own opinion, which is totally worthless, is that we are well into a slimming down process which will see some other affiliates brought in house, and some more IPO's this year. I have heard that there are other start-ups under consideration for affiliate status, so I don't think the affiliate program is ending. I do think its time to grow some of them right out onto the market. (Can you do an IPO on your kids? Is that what debutants coming out was all about?) |
