iVillage IPO hits a snag------>
Thursday, March 18, 1999
iVillage IPO hits a snag
By Larry Barrett
March 17, 1999 7:05pm
ZDII
Pricing of iVillage Inc. (Nasdaq: IVIL) shares was delayed by the Securities and Exchange Commission Wednesday night, meaning the highly anticipated initial public offering is on hold for at least another day.
Lead underwriter Goldman Sachs said the pricing should be finalized Thursday evening.
"All I can tell you is we are awaiting clearance from the SEC before we can price," said Adam Weiner, a spokesman at Goldman Sachs. "Obviously, any comment we might make about this at this point could be highly problematic just as it would for any other IPO."
On Tuesday, iVillage raised its initial public offering price range to $22 to $24 a share from $12 to $14 a share.
But such a sudden increase in price would seem to imply incredible demand for the offering.
It's possible that either the underwriter or iVillage itself might be considering another price bump.
"We're in quiet period right now, so there's really nothing more than I can add," said Jason Stell, an iVillage spokesman. "We're in the crosshairs right now."
In what's widely been dubbed the "Year of the Woman," iVillage appears to be the woman's IPO of the year.
iVillage, based in New York City, is an online women's network that analysts are calling one of the most demographically targeted online communities on the Internet.
Its network provides a comprehensive destination tailored to the interests and shopping habits of women between the ages of 25 and 49. It also provides advertisers with unparalleled access to women using the Internet for commerce, education and entertainment.
Most important, iVillage was the only top 100 Web site with a female audience of more than 65 percent, according to Media Metrix.
The company will offer 3.65 million shares in its initial public offering. The stock is expected to debut Thursday morning.
The timing seems to be perfect considering the smashing debut of FlashNet Communications Inc. (Nasdaq: FLAS). In its IPO Tuesday, FlashNet shares were up 25 5/8, or 151 percent, to 42 5/8.
zdii.com
|
