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Strategies & Market Trends : Keep Your Eye On The Ball - Watch List
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To: CanynGirl who wrote (828)3/27/1999 2:23:00 AM
From: TFF  Read Replies (1) of 2802
 
Priceline will value @ 2 billion+ based on 142 million shares @ 14 per share. What other companies will tag along?

Priceline.com raises IPO price

WASHINGTON, March 26 (Reuters) - Internet commerce firm Priceline.com Inc. said Friday it raised the estimated initial price of the first-ever public sale of its stock to between $12 and $14 per share.

In an amended initial public offering filed with the Securities and Exchange Commission, the Conn.-based firm previously estimated the initital selling price at between $7 to $9 per share.

The company also revised the number of shares outstanding after the offering to 142,320,427 from 142,320,427 common. The intitial offering remains the same at 10 million common.

The company has applied to trade on Nasdaq under the stock symbol .

Priceline.com granted the underwriters an over-allotment option to purchase up to 1.5 million additional comon shares. The offering will be made through Morgan Stanley Dean Witter, BancBoston Robertson Stephens, Donaldson Lufkin & Jenrette and Merrill Lynch & Co.

Net proceeds will be used for working capital and general corporate purposes.

Priceline.com is a multi-category e-commerce system which uses a simple and compelling consumer proposition -- name your price.
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