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Technology Stocks : CMGI DSP Programs -- Ignore unavailable to you. Want to Upgrade?

To: James Thompson who wrote (1)	12/20/1999 1:03:00 AM
From: James Thompson	Read Replies (1) \| Respond to of 178

AltaVista files for $300 million public offering By Amanda Tyler, CBS MarketWatch Last Update: 7:10 PM ET Dec 17, 1999 See: IPO Daily Report PALO ALTO, Calif. (CBS.MW) -- CMGI Inc.'s AltaVista business plans to raise $300 million in an initial public offering next year in what would be the latest ownership incarnation for one of the Internet's most popular search engines. The Palo Alto, Calif.-based company, in which CMGI (CMGI: news, msgs) holds an 82 percent stake, said in a regulatory filing released Friday that it plans to use the proceeds from an IPO for working capital, advertising and other general corporate purposes. AltaVista did not disclose how many shares it plans to sell or the projected price range per share. The IPO could be the birth of a major new portal with pieces of the CMGI family of Web properties all woven together. CMGI, which also filed Friday with the SEC to sell $1 billion in debt and equity, saw its shares surge in after hours trading to as high as 219, making up most of their losses during the normal trading day in which they declined 9 3/4 to 211 13/16. CMGI bought its stake in AltaVista earlier this year from Compaq Computer Corp. (CPQ: news, msgs), which itself got the company when it bought Digital Equipment Corp. a few years ago. AltaVista has applied to trade on Nasdaq under the symbol, "ALTA." Morgan Stanley Dean Witter will be the lead underwriter.