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Technology Stocks : Charter Communications (CHTR) -- Ignore unavailable to you. Want to Upgrade?

To: Sarkie who wrote (73)	10/5/1999 1:30:00 AM
From: Sarkie	Respond to of 2437

Dated September 28, 1999, but don't think this was previously posted (if it has, I apologize). P. Allen's Charter Comm Sets IPO Terms: 170M Shares, $17-$19 Each Newstraders - September 28, 1999 12:23 (NewsTraders.com)-- Charter Communications Inc., the cable TV operator formed by Microsoft (MSFT) founder Paul Allen, revealed the terms of its upcoming initial public offering, including that it will offer an eye-popping 170 million Class A shares in the $17-to-$19 price range. The company had not previously disclosed the deal's details, stating only that it was registering $3.45 billion of stock. Charter now estimates the total size of the offering at $3.71 billion. Upon completion of the offering, Allen will hold a 57.9% equity stake in Charter and will control 93.0% of the company's voting power, primarily through his ownership of nearly all Class B shares outstanding. Net offering proceeds are estimated to be $2.94 billion, based on the $18 mid-point price, and could reach as high as $3.38 billion if the underwriters exercise their full over-allotment option. The underwriting team includes Goldman Sachs Co., Bear Stearns Co., Morgan Stanley Dean Witter and numerous others. Charter has applied to list its stock on the Nasdaq National Market under the symbol "CHTR," according to amended IPO papers filed today. Based in St. Louis, Charter is the 4th largest operator of cable television systems in the U.S., serving 6.2 million customers, after giving effect to pending acquisitions. The company currently serves 3.4 million customers. IPO Expectations: Price per share: $17 to $19 Shares being offered: 170,000,000 Class A common Shares to be outstanding: 170,000,000 Class A and 50,000 Class B Company location: St. Louis, Mo. Exchange/Symbol: Nasdaq/CHTR Underwriter(s): Goldman, Sachs Co., Bear Stearns Co., Morgan Stanley Co., Donaldson Lufkin Jenrette Securities Corp., Merrill Lynch Pierce Fenner Smith, Salomon Smith Barney, A.G. Edwards Sons and M.R. Beal Co. Copyright 1999 NewsTraders Inc. All Rights Reserved 13:26 Tuesday, September 28, 1999