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To: Boplicity who wrote (53868)	12/13/1999 7:01:00 PM
From: Ruffian	Respond to of 152472

3Com's Palm Unit Files for IPO; AOL, Motorola and Nokia to Buy Shares By Scott Lanman 3Com Files for IPO of Stock in Palm Organizer Unit (Update1) (Adds details on stake sale in 4th paragraph.) Washington, Dec. 13 (Bloomberg) -- 3Com Corp.'s Palm Inc. unit, the No. 1 electronic-organizer maker, filed for an initial public offering of stock, giving investors a way to benefit from 3Com's fastest-growing business. Palm, which 3Com expects to spin off six months later to shareholders of the No. 2 maker of computer-networking equipment, filed with the Securities and Exchange Commission to sell common stock. Palm registered for the sale of $100 million worth of stock. The filing, though, gave no details about precisely how many shares the company hopes to sell or how much the IPO would raise. More than 5 million Palm devices, which let users input phone numbers and memos on a liquid-crystal screen with a stylus, have been sold since their introduction in 1996. In recent months, 3Com has licensed the Palm operating-system software to high-profile companies like Nokia Oyj and Sony Corp. Nokia and Motorola Inc., the two biggest cellular phone makers, and No. 1 online service America Online Inc., agreed to invest up to $225 million to buy stock in private placements that will occur the same time as the closing of the IPO, Palm's filing said. The three companies would own up to 4.5 percent of Palm's ''capital stock,'' which the filing defined as outstanding common stock as well as options that have been granted as of 2000. 3Com shares rose 1 3/4 to 44 13/16. The shares have risen 64 percent since 3Com said Sept. 13 that it planned to spin off Palm.