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Technology Stocks : VLSI Technology - Waiting for good news from NASDAQ !!! -- Ignore unavailable to you. Want to Upgrade?

To: Clarksterh who wrote (3309)	4/16/1998 7:58:00 PM
From: emichael	Read Replies (2) \| Respond to of 6565

News Alert from Dow Jones Online News via Quote.com Topic: (NASDAQ:AAPL) Apple Computer Inc, Quote.com News Item #6142905 Headline: (UPDATE) Eagerly Awaited IPO From ARM Holdings Priced Above Raised Estimates ====================================================================== NEW YORK -(Dow Jones)- An initial share offering from U.K.-based ARM Holdings PLC apparently was a big hit with institutional investors Thursday. The 3.9 million American depositary shares were priced at $29.17 each, above already-raised expectations. The chip-design company, based in Cambridge, England, earlier this week raised the price range to between $25.11 to $28.88 share, from an original range of $16.24 and $19.24. Shares of the Cambridge, England, chip-design company will trade on the Nasdaq Stock Market under the symbol ARMYV. Each ADS will represent three standard shares. ARM Holdings, whose products are used in cellular phones and hand-held computers, is offering 11.7 million American depositary receipts world-wide, including 5.9 million in the U.S. and Canada. Its shares also will trade in London. Morgan Stanley Dean Witter is the lead underwriter for the IPO. ARM, whose products are used in cellular phones and hand-held computers, offered shares on the London exchange as well. ARM said it will use net proceeds to pay a dividend to shareholders and for general corporate purposes. The company boasts Apple Computer Inc. as one of its biggest investors. It was formed in 1990 as a joint venture between the U.K. wing of Apple, Acorn Computers Ltd. and VLSI Technology Ltd. Apple and Acorn are expected to sell 2.5 million shares each in the IPO. ARM represents one of the best moves Apple ever made, market watchers have said. Apple invested an estimated $3 million in what was then called Advanced Risc Machines Ltd., whose technology was used in Apple's Newton handheld computers. Newton was a bust, but the so-called ARM chips became widely used in cell phones, modems, cars and TV set-top boxes. Apple's stake was recently estimated to be worth nearly $100 million. Copyright (c) 1998 Dow Jones & Company, Inc. All Rights Reserved.