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Non-Tech : Wit Capital Group Inc - (Nasdaq - WITC) -- Ignore unavailable to you. Want to Upgrade?

To: mact who wrote (655)	7/16/1999 7:19:00 PM
From: Mohan Marette	Respond to of 845

Chicago futures firms plan $200 million IPO mact: Watch out for this one. NEW YORK, July 16 (Reuters) - Lind-Waldock & Co., the No. 1. U.S. discount futures broker, is on the verge of forming a publicly traded company with three rivals that could take on the nation's top securities firms, sources familiar with the deal said on Friday. The firms, which all are among the top 40 U.S. futures brokers, are set to file with regulators for a $200 million stock offering on July 26, sources familiar with the situation said. With about $1.1 billion in customer funds, the firms would be among the first to go public in what is still a fragmented, clubby industry. Aside from Lind-Waldock, the biggest of the four, futures brokers Saul Stone & Co., LFG and First American Discount Corp. are part of the venture, which has been engineered by Little Harbor Capital Management, an investment firm in Marblehead, Mass., a source familiar with the situation said. Sheridan Investments, a firm that manages futures accounts for investors, also will merge with the others, the source added...... Prudential Securities Inc., a unit of Prudential Insurance Co. of America, is expected to lead the team that would take the firm public, the sources said. William Blair & Co., PaineWebber Inc. (NYSE:PWJ - news) and Wit Capital Group (Nasdaq:WITC - news) also are expected to participate. biz.yahoo.com