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Technology Stocks : IDT *(idtc) following this new issue?*
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To: blankmind who wrote (2389)3/6/1999 8:44:00 AM
From: Hawaii60  Read Replies (3) of 30916
 
Blankmind, I strongly disagree with your post. IPO's take time. BT ALex Brown is obviously one of the underwriters because they have gone quiet and BT is recognized as one of the top two for internet ipo's. The core business although out of favor as a sector for the time being, is reasonably values by any normal valuation model at $25 plus without the internet stuff. By reasonable valuation model, I mean price to rarnings, pe, sales or book. So, to say they will see single digits without some sort of catastrophe is laughable. Management isnt desperate to do anything. They just were not going to let themselve get hondoled by trhe bondholders. The bondholders thought they had management over a barrel but good, and wanted more money etc etc. They found out that management had more guts then they did.and many of the bondholders will wind up with no premium now because management had the right to buyback 35% at .85% all along but had offered 1% to be nice. Now, no nice. The other complication is management could not reveal to the bondholders who the corporate partner was, or they would have wanted even more. Bottom line is we have not missed the internet wave whatsoever. In fact we will be catching it just perfectly. Management is not stupid and they are not going to waste our money either. It was a gutsy move to wait the additional 5 days and a necessary one. I forget the rest of what you said but it was wrong too lol.
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