A side IPO play for the next 2-3 weeks.
Modem Media.Poppe Tyson Inc.(MMPT) is set to IPO the first week in February at
$11-13.
Modem Media.Poppe Tyson is the world's #3 interactive ad agency. The company offers its clients public relations, interactive marketing, and direct-mail services. It also provides consulting services, Web site design and maintenance, custom software development, and publishing services. The company has offices inChicago, Hong Kong, London, New York City, San Francisco, Toronto, and
Westport, Connecticut. Modem Media's customers include AT&T, JC Penney, Kodak, and Sony. In 1998 Modem Media and Poppe Tyson merged to become Modem Media.Poppe Tyson. Later that year the company filed an IPO; True North, which owns 92% of the company, will retain a majority stake after the IPO.
biz.yahoo.com
The key here is True North (TNO). They currently have sales around $1.2B.
Key Information
TNO Outstanding Shares = 45.1M
TNO Float = 30.6M
MMPT Shares help by TNO = 5.6M
MMPT Outstanding Shares = 10.7M
MMPT Float = 2.6M
One TNO share is worth 12.4% of MMPT (5.6M/45.1M)
One MMPT share is worth 8.1 TNO shares (1/.124)
Recent TNO price = $25
I expect MMPT to be received quite favorably when it starts trading. It should follow
the trading pattern of DCLK to some extent. A move to the forties for TNO shouldn't
be out of the question.
GG |
