Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Cybersurf (CY.A) - Bridge between 20th & 21st Centuries -- Ignore unavailable to you. Want to Upgrade?

To: CocoBob who wrote (2147)	7/24/1999 8:05:00 AM
From: LABMAN	Respond to of 3243

from the Financial Times of London Friday July 23 1999 Today / Market Comment EUROPE: Freeserve to score opening premium By Nicholas Leonard Shares in Freeserve, the internet services provider launched only 10 months ago by Dixons Group, are expected to show a premium when dealings start in London on Monday July 26. The issue of around a fifth of the share capital has been heavily over-subscribed and unofficial dealings with financial bookmakers in London have indicated an opening price of between 185p and 210p depending on market conditions. That compares with the original price range set by Dixons of 130p to 150p. At 200p the market capitalisation of Freeserve would be £2bn but 80 per cent of the shares will continue to be owned by Dixons.

To: CocoBob who wrote (2147)	7/24/1999 8:14:00 AM
From: LABMAN	Read Replies (2) \| Respond to of 3243

from the LONDON TIMES RE: FREESERVE July 24 1999 BUSINESS NEWS Freeserve shares predicted to rocket on debut BY SAEED SHAH FREESERVE, the Internet service being floated by Dixons, looks set for a sparkling debut on Monday after prices quoted on the grey market shot up yesterday. City Index, the spread betting firm, was last night quoting Freeserve to finish its first day of trading at 209p to 215p, up from a spread of 189p to 197p on Thursday. That would appear to predict the shares rocketing to a premium of more than 50 per cent to the indicative price signalled by Freeserve's advisers of 130p to 150p. The price on the grey market has been driven up by reports that the offer has been ten times oversubscribed by institutional investors. The £1.3 billion-plus initial public offering of 18.25 per cent of Freeserve's shares, closed to institutions at 5pm yesterday, having closed to retail investors the previous day. The grey market activity is likely to mean that the offering will be priced near the top of its flotation range. Miles Saltiel, analyst at WestLB Panmure, said: "The grey market is telling us that the launch is going to be a success. I expect the stock to go to around 215p on Monday. It's the first major Internet offering in Britain and it's a retail brand that everybody knows. It's caught the market's imagination." Next page: Come clean, travel agents told