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Technology Stocks : Orbital science (ORB) -- Ignore unavailable to you. Want to Upgrade?

To: Nagaraju R. Arakotaram who wrote (1428)	4/9/1998 12:32:00 PM
From: Mohan Marette	Read Replies (1) \| Respond to of 2394

Nagaraju, you raise a valid question and let me try to answer you this way but don't quote me on it as I am speculating. The secondary offering most likely will be subscribed by the underwriters(Merril Lynch,Morgan Stanley and I forget the other) best clients at the offer price and the general public won't see it at all. Unless the clients of the underwriters dump their allocations immediately in the open market for a quick profit we may not even see a precipitous effect on the stock price.Also note the underwriters usually frown upon the immediate dumping of the stock by their clients for a quick profit as they much rather seem them hold it as a long term investment.They can not legally make them do so but they can however withold any future allocation of IPOs or secondary offering from such clients. This what I think will happen,but like I said don't hold me to it.