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Technology Stocks : Buying IPOs on the open market -- Ignore unavailable to you. Want to Upgrade?

To: nick stalin who wrote (3021)	10/13/1999 1:57:00 PM
From: puborectalis	Read Replies (1) \| Respond to of 5529

SNRA....interesting play...Finland Sells Sonera Shares at 23.75 Euros Each, Raising EU3 Bln for State By Nicola Hobday Finland Prices Sonera at EU23.75, Raising 3 Bln Euros (Update2) (Adds closing share price in 7th paragraph.) Helsinki, Oct. 13 (Bloomberg) -- Finland sold shares in Sonera Oyj, the country's biggest telephone company, at 23.75 euros each, raising 3 billion euros ($3.2 billion) as the government benefited from investor enthusiasm for phone stocks. The state sold 127 million shares, or 18 percent, of Sonera, the country's second-largest company by market value after Nokia Oyj. Demand exceeded supply by more than two times. Investors were keen to buy stock in Sonera, which has gained 60 percent this year, because of its 41 percent stake in Turkey's largest cellular phone operator, Turkcell Iletisim Hizmetleri AS, and its holdings in U.S. technology firms, such as VoiceStream Wireless Corp. ``Investment in Turkcell has produced superb returns,' said Mika Heikkilae, at Conventum Funds who helps manages about 200 million euros of assets. Sonera has invested a ``substantial amount of money' in VoiceStream, ``but the potential in the U.S. market easily justifies it,' he said Sonera's investment in U.S. companies prompted it to seek a listing there to lure more investors from the country. Shares are slated to start trading on the Nasdaq, the second-largest U.S. stock market, today. The stock was sold at a discount of 4 percent to its closing price yesterday, but at a 15 percent discount to the 28 euro-high it notched on Sept. 28. The stock fell 1.4 percent to 24.41 euros today as telecommunications and technology shares were hit by a profit warning from SAP AG, the world's largest business management software maker, and disappointing earnings from Intel Corp., the world's largest semiconductor maker. Emerging Markets About a third of the shares were sold to individual and institutional investors in Finland, the company said. Sonera has fixed its sights on emerging markets, as well as the U.S. Turkcell has four million subscribers, or 68 percent of the market, in Turkey in August. Sonera also has stakes in mobile phone companies Lietuvos Telekomas and UAB Omnitel, Eesti Telefon and Estonian Mobile Telephone a fixed-line and mobile phone joint venture with state-owned Estonian Telecom. In Latvia, Sonera owns a stake in Lattelekom, the Latvian national operator. In the U.S., Sonera bought Ericsson AB's 9.1 percent stake in August in U.S. cellular phone operator Powertel Inc. for $123 million to boost its presence in the growing U.S. digital cellular market. Goldman, Sachs & Co., the global coordinator for the offering, has an option to buy another 16.95 million shares within 30 days. Other banks in international offering include, CSFB, Dresdner Kleinwort Benson, Merrill Lynch & Co. and Morgan Stanley Dean Witter, along with Cazenove & Co., Credit Agricole Indosuez and Daiwa Europe Ltd. Goldman and MeritaNordbanken Oyj were joint managers for Nordic institutions, with Den Danske Bank, Evli, Handelsbanken, along with Alfred Berg and Opstock.

To: nick stalin who wrote (3021)	10/13/1999 6:17:00 PM
From: Kimberly Lee	Read Replies (1) \| Respond to of 5529

Nick, GSPN brings back very pleasant memories. I still remember that day when it went public, during which I loaded up every share I could get in the 20s, plus the already generous syndicate allocation I received. Then two hours later, ARBA opened; then JNPR the next day. I was telling a few people over ICQ to buy more JNPR at the open and just waited it out if it went down a bit. To this day, I still consider these 3, especially the latter two, the catalysts that reignited the then lackluster IPO market during June.