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Strategies & Market Trends : The New Economy and its Winners -- Ignore unavailable to you. Want to Upgrade?

To: Bill Harmond who wrote (15186)	12/6/2002 1:05:25 PM
From: Lizzie Tudor	Read Replies (2) \| Respond to of 57684

I just saw O'Neill resignation well thats good news if you ask me I don't know about Lindsay

To: Bill Harmond who wrote (15186)	12/6/2002 1:43:16 PM
From: stockman_scott	Respond to of 57684

Storage market left in the cold news.com.com

To: Bill Harmond who wrote (15186)	12/6/2002 2:06:15 PM
From: stockman_scott	Read Replies (1) \| Respond to of 57684

Merc nets $105M in historic IPO By Kelly Quigley Crain's Chicago Business Update December 06, 2002 The market responded enthusiastically to the Chicago Mercantile Exchange Holdings Inc.’s initial public offering Friday, boosting shares nearly 15% over the IPO price in early trading. The Merc, the first U.S. exchange to go public, on Thursday priced its 4.75 million shares at $35 each—above the predicted range of $31 to $34 per share. Upon their New York Stock Exchange debut, the shares rose 11% to $39. Their ascent continued Friday morning, reaching more than $40 per share. The Merc’s shares are trading under the ticker symbol CME. Investment bank Morgan Stanley managed the sale, which raised $166.3 million on Thursday. Of that, the Merc will collect $105 million, which it plans to use for new technology and other capital expenditures. The Merc’s public status also creates currency for the nation’s largest futures exchange to acquire other institutions in a consolidating industry (Crain’s, Oct. 7). The underwriters, which also include Salomon Smith Barney, J.P. Morgan Securities and William Blair & Co., have the option to buy 712,660 more shares to meet investor demand—increasing the IPO’s value to as much as $185.7 million. The IPO was closely watched by other major exchanges that have considered going public, including the Nasdaq stock market, which may launch its own public offering as early as the second quarter of next year. The New York Stock Exchange, however, recently stepped back from previous plans to sell shares to the public and said it will remain private.