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Microcap & Penny Stocks : DGIV-A-HOLICS...FAMILY CHIT CHAT ONLY!! -- Ignore unavailable to you. Want to Upgrade?

To: The Street who wrote (25720)	9/12/1998 4:05:00 PM
From: Danimal	Read Replies (2) \| Respond to of 50264

Very Interesting Egypt Information!! The most recent Digitcom press release said this: "The planned venture will join Telecom Egypt and Digital Long Distance Corporation, a subsidiary of Digitcom, in a revenue sharing arrangement or the formation of a joint stock company. Egypt's telephone privatization looks to be very lucrative! I found this: Egyptian IPO 50 Times Over Subscribed The initial public offering (IPO) of 30% of the Mobile Telephone Co. was oversubscribed by more than 50 times. The company is being formed to privatize Egypt's existing cellular telephone network and planned on raising 600 million Egyptian pounds ($176 million). The results far exceeded analysts' most optimistic expectations, but ruffled institutional investors, who under the rules of distribution aren't likely to end up with much of a stake. The IPO was skewed towards attracting smaller investors. Demand is expected to be fierce once trading begins. Shares were priced at EGP10.00, with only EGP2.50 due at subscription and with a minimum purchase of only 50 shares. The maximum purchase was set at 600,000 shares, or 3.3% of the 18 million share offering. Trading of the shares on the Cairo Stock Exchange isn't expected to begin for months, because the company has yet to be formed and take on the duties of operating the country's 100,000 cellular subscriber network. No date has been set, and officials with the state authority Telecom Egypt made no further comments. Meanwhile, analysts were speculating that the heavy demand for shares would create an active over-the-counter secondary market, i.e. people would trade shares among themselves before official trading begins. Hmmmmm... The Mobile Telephone Company will raise $176 MILLION for Cellular. How much is this new IP long distance venture worth?? WOW WOW WOW!