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Non-Tech : Steelcase IPO -- Ignore unavailable to you. Want to Upgrade?

To: Ed Gillespie who wrote (7)2/16/1998 10:17:00 AM
From: Superhawk  Read Replies (1) | Respond to of 27
 
Ed: You wrote -

"From what I read from your post, the A shares can be sold at ANY time. It is the B shares that have the waiting period."

You are correct. Shares offered at the IPO will be "A" shares which
can be traded at any time. The huge overhang is in "B" shares
owned by insiders which can not be traded for 180 days from the
date of the SEC filing.

Because price of an equity is significantly influenced by supply of
shares (the so-called float), the share price could drop precipitously
in about six months as 140-million-plus shares enter the float. I have
not had experience with this sort of situation before, so I could be
all wet. Anybody out there know what might happen when locked-
out shares become available for trading? Anybody care to speculate?



To: Ed Gillespie who wrote (7)2/18/1998 9:52:00 AM
From: Superhawk  Read Replies (1) | Respond to of 27
 
Well, Ed, today's the day. My broker managed to get me 100 shares
of SCS. Hope you were able to get some too.

I was surprised by the pricing -- $28.00 a share at last notice. My son,
a broker in San Diego just called to say initial indications are a open
of $31.00 to $34.00 a share. He said word is the IPO is "hot". We'll
see. Looking forward to an interesting day.


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