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Technology Stocks : BACKDOOR, an IPO> IDTC,BRKT,BNYN,KLOC,NAVR

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To: C. McD who wrote (314)	2/9/1999 10:39:00 PM
From: .com	Read Replies (1) of 954

UIHIA NEWS United Pan Europe IPO to be among top 15 in size Tuesday February 9, 8:20 pm Eastern Time By Reshma Kapadia NEW YORK, Feb 9 (Reuters) - Dutch cable operator United Pan-European Communications NV could earn its place in the top 15 largest initial public offerings by foreign and U.S. issuers here with 40 million shares slated to price late Wednesday, according to Securities Data. The offering's expected price range was raised to $30.46/$32.72 from $27.80/$31.27 in a sign of increasing demand. The deal, which could raise about $1.22 billion for the operator of cable-based communications networks, is being led by Goldman Sachs. ''They will do well,'' said Ken Flemming, an analyst at Renaissance IPO Fund (Nasdaq:IPOSX - news). ''They have an agreement with Microsoft (Corp.) and they are expanding their services to include local telephone and the Internet.'' Microsoft (Nasdaq:MSFT - news) has said it will take a stake of about $300 million in the company and its connection to the Dutch firm will draw investor interest. The company has about two million subscribers, Fleming said, whereas U.S. cable firms such as Cox Communications have about four to five million subscribers. ''I think its Internet connection makes it attractive,'' Fleming said, but he noted the recent sell-off in Internet stocks. ''It could be potentially hurt by the recent sell-off, but unlike other Internet start-ups, it is a cable company that has a real business and has been cash-flow-positive.'' The company will also go public on the Amsterdam bourse as one of the largest offerings in that market and one of the first with an Internet component.

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