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Technology Stocks : BACKDOOR, an IPO> IDTC,BRKT,BNYN,KLOC,NAVR -- Ignore unavailable to you. Want to Upgrade?

To: steve host who wrote (190)	1/27/1999 5:46:00 PM
From: Rajiv	Read Replies (1) \| Respond to of 954

UIHIA owns 100% of UPC - it is UIHIA that is selling the stake in the company - about 37% = that money goes to the seller bringing the company public UIHIA. UIHIA owns around 100% of UPC at the moment. UPC will be selling some new shares (IPO). This will reduce the % of UPC owned by UIHIA. Around 8% of the current outstanding shares of UPC are registered in the name of a trust - something to do with a stock incentive plan for employees. UIHIA is not selling the shares and hence will not get anything from the the IPO proceedings. Be careful using the terminology "book value". Companies don't mark their investments to market value. "Break up value" is more appropriate. Regards. Rajiv