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Gold/Mining/Energy : T.ITE: iTech Capital (TSE) -- Ignore unavailable to you. Want to Upgrade?

To: Alcona who wrote (4822)	9/28/2000 3:24:15 PM
From: Condor	Respond to of 5053

-- [B] Friday's IPOs: Deals expected to open Sept. 29 -- By Scott Reeves, BridgeNews New York--Sept. 28--The following initial public offerings are expected to open Friday: --Elastic Networks Inc. (ELAS) of Alpharetta, Ga., a designer and marketer of high-speed digital subscriber line products, plans to offer 7.8 million shares at $10 to $12 each via Chase H & Q. Opinion: This will be one of the strongest deals of the week. Elastic Networks has designed products with what it calls "Etherloop" technology, which is designed to enhance digital subscriber line, or DSL, by using Ethernet technology. DSL allows service providers to provide customers with broadband Internet access over existing copper phone wires by using digital signals. DSL can deliver traffic to customers at speeds up to 100 times faster than the traditional analog technology used in dial-up Internet connections. Ethernet technology enables Internet traffic to flow more efficiently by slicing large amounts of data into small packets and transmitting them in short intervals. By combining Ethernet and DSL technologies, Etherloop is designed to more efficiently use existing bandwidth by constantly monitoring network requirements. As more users are demanding increased bandwidth it has become vital that telecommunications use their bandwidth at close to peak efficiency. Etherloop is designed to meet that requirement. Elastic's customers include BellSouth Communications Systems, CAIS Internet, Citizens Communications, Darwin Networks, Everest Broadband Networks, Oregon Trail Internet, UniversalCom, Beijing Keval On-Line Technology, Coventus, New T & T Hong Kong and OverNet. For the six months ended June 30, Elastic Networks posted a net loss of $13.2 million on revenues of $14.6 million, compared with a net loss of $8.7 million on revenues of $2.6 million during the same period a year ago. The company was formed in January 1997 by Nortel Networks Inc., and began operating as independent concern in May 1999. After the IPO, Nortel Networks Inc. and Nortel Networks Limited will own about 46% of Elastic's outstanding shares. Deals that expand or improve network capacity have consistently rewarded investors with big gains. Recent winners include Sycamore Networks (SCMR), Juniper Networks (JNPR) and Copper Mountain Networks (CMTN). Although Elastic Networks isn't a fiber optic deal, it should perform well. Look for a strong opening and a good first day.