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Technology Stocks : Semi-Equips - Buy when BLOOD is running in the streets! -- Ignore unavailable to you. Want to Upgrade?

To: Investor2 who wrote (5736)	6/8/1998 1:04:00 AM
From: FJB	Respond to of 10921

RE:semiconductor company equity offerings June 8, 1998 Franco-Italian semiconductor maker STMicroelectronics NV successfully completed its secondary offering Friday, the largest-ever offering of its type in the technology industry, despite recent jitters over the health of chip markets. The company, based in St. Genis, France, raised a total of $1.75 billion after its state-owned shareholders sold 16 million shares to reduce their stake in the company to 56% from 69%. ST also issued three million new shares and bonds that will be convertible into a further four million shares. ... Dhiren Shah, managing director of Morgan Stanley Dean Witter's technology group, a joint coordinator of the ST offer, said despite this difficult environment, the offer was oversubscribed. He said investors were cheered by the company's lack of exposure to the PC market and limited involvement in the most volatile of semiconductor products, memory chips. interactive.wsj.com