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Technology Stocks : IDT *(idtc) following this new issue?* -- Ignore unavailable to you. Want to Upgrade?

To: Andrew H who wrote (10198)	6/28/1999 4:32:00 PM
From: Steve Fancy	Read Replies (1) \| Respond to of 30916

Andy, I sure hope to see more short term upside, but I'm not sure why you think initial NTOP price movement will have any bearing on IDTC stock...they don't seem to be working that way lately...suspect it's being built in now and could sell off on IPO. sf

To: Andrew H who wrote (10198)	6/28/1999 4:36:00 PM
From: musicguy	Respond to of 30916

Nice math, and I agree that with investors no longer shying away from IPO's, NTOP could close considerably higher than its opening (which could also be adjusted upwards by the time it happens). However, we have seen that ultimately it is the streets perceptions of IDTC that controls the price. Hopefully the roadshow will be a continued success, and we can maintain a solid base in the upper 20's till the IPO. The next few days will be a crossroads in the life of this stock. MG

To: Andrew H who wrote (10198)	6/28/1999 11:09:00 PM
From: peter michaelson	Read Replies (3) \| Respond to of 30916

Andrew: I think there are some errors in your post. First, the IPO will not bring $67 million to IDTC. The seller is Net2Phone, and Net2Phone will get the $67 million. Second, normally a discount should be applied to the value of a large holding in apublic company - for 2 reasons. One, there would be a taxable capital gain if the holding were to be sold. Second, the holding is not liquid - it cannot be sold off without lowering the price. Therefore, it's not worth 100 cents on the dollar. Typically, 70% of the public stock price is used as an approximation for the value to the parent. peter