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Technology Stocks : Newbridge Networks -- Ignore unavailable to you. Want to Upgrade?

To: pat mudge who wrote (8486)	12/11/1998 7:24:00 PM
From: Serge Collins	Read Replies (2) \| Respond to of 18016

Pat: Will Bill Clinton face a trial in the Senate? I believe you need 2/3 majority in the Senate to impeach, but a simple majority would force the President to resign in my view. Can you tell me me as a Canadian who is not that familiar with the makeup of your Congress, whether or not the Republicans have control of the Senate. Could this be the end of the Clinton Bull Market? I think the market is resilient enough to withstand this event but it will have an impact in the next few weeks, particularly if it ever came to impeachment.

To: pat mudge who wrote (8486)	12/11/1998 11:22:00 PM
From: Gary Korn	Read Replies (3) \| Respond to of 18016

12/11/98 Dow Jones News Serv. 13:53:00 Dow Jones News Service Copyright (c) 1998, Dow Jones & Company, Inc. Friday, December 11, 1998 Tundra Semiconductor Hopes -2: A Newbridge Affiliate By Scott Adams TORONTO (Dow Jones)--Tundra Semiconductor Corp., a private fabless semiconductor company, hopes to raise about C$30 million in an initial public offering. As reported, the Newbridge Networks Corp. (NN) affiliate, based in Kanata, Ont., announced earlier Friday that it has filed with Canadian regulators for an IPO. The underwriting syndicate is being led by Merrill Lynch Canada Inc., with CIBC Wood Gundy Securities Inc., TD Securities Inc. and Nesbitt Burns Inc. also involved, said Adam Chowaniec, Tundra's president and chief executive. Tundra is the second Newbridge affiliate to go public, as CrossKeys Systems Corp. (CKEYF) completed its IPO about a year ago. Two other Newbridge affiliates, Cambrian Systems Corp. and Advanced Computer Communications, have been sold outright recently. Tundra's offering will primarily consist of new shares, but Newbridge, which owns about 38% of Tundra, will be selling some of its stake, Chowaniec said. He couldn't provide details about the expected pricing of the shares. He said his firm chose Merrill Lynch mainly because Tundra's investment banker had been Midland Walwyn since 1995. Merrill Lynch bought Midland Walwyn this year, and has U.S. reach, another advantage. Although Crosskeys completed its IPO in both Canada and the U.S., Chowaniec said the size of Tundra's IPO was too small to be offered in both countries. "We had to chose one or the other and we decided the TSE would work well for us," Chowaniec said. "We're reasonably well known in Canada...so we decided to do it here first... There is much more analyst coverage here than there was even a year ago so I feel pretty good that we will get that coverage." The IPO market in Canada has been very weak since the summer, but Chowaniec believes the offering can sell. "We have a strong story as we have outlined in the prospectus and our underwriting syndicate felt the market would be receptive even though we are going to be the first Canadian high-tech IPO for quite some time," he said. In the fiscal year ended April 30, Tundra had C$20 million in revenues and a profit of C$473,000. In the six months ended Nov. 1, it had revenues of C$12.5 million and a profit of C$863,000. -By Scott Adams; 416-943-7804; scott.adams@dowjones.ca (END) DOW JONES NEWS 12-11-98