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Technology Stocks : Modem Media . Poppe Tyson (Nasdaq: MMPT) -- Ignore unavailable to you. Want to Upgrade?

To: CookiePuss who wrote (23)	2/1/1999 10:26:00 AM
From: Hollywood	Respond to of 821

IPO VIEW-Big names, a big deal, and the Internet (http://www.newsalert.com/bin/story?StoryId=CnRpJub8ZtJi5mtqWntKY&FQ=%22Modem%20Media%20Poppe%20Tyson%22&SymHdl=1&Nav=na-search-&StoryTitle=%22Modem%20Media%20Poppe%20Tyson%22) By Reshma Kapadia NEW YORK, Jan 31 (Reuters) - This week's line-up in the new offerings pan includes: a GM unit, a Ross Perot company, and an advertising unit with a nice Internet twist. Dealers expect generally good receptions for the high-profile initial public offerings, each of which has more than a dollop of topical interest. General Motors Corp.'s Delphi Automotive Systems Corp., for instance, could end up as one of the top ten U.S. IPOs. And one-time presidential hopeful Ross Perot's Perot Systems Corp. and Internet advertising firm Modem Media Poppe Tyson are also expected to sizzle this week. General Motors will divest Delphi through this week's IPO in a deal that Delphi estimates may yield about $1.57 billion, which could put it into the top 10 largest deals by U.S. issuers based on domestic proceeds, according to Securities Data. The expected price range of the deal was raised to $15 to $18 from $14 to $18. Troy, Michigan-based Delphi is the world's largest and most diversified supplier of computers, integrated systems and modules to the auto industry. It is expected to offer 100 million shares through lead underwriter Morgan Stanley. "Delphi should be a good one. It is a big high-profile deal and it probably will be one of the top ones in terms of money (raised), so there is a lot of focus on that one," said one syndicate manager, who asked not to be named. Perot's leadership as chairman and chief executive of Dallas-based Perot Systems will most likely secure a warm welcome for the information technology provider, analysts said. "Perot Systems will not do as well as recent Internet IPOs because it is an established company with a history, which in the short-term could hold it back, but in the longer term it will help it," said Ken Fleming, an analyst at Renaissance Capital's IPO Fund. The company is offering 5.5 million shares on Monday in a price range of $13-$14 per share. The offering will be managed by Morgan Stanley Dean Witter. "It is a real company. Whatever you think about Perot's politics, you can't argue with his business practices. He has done a good job of cutting costs. The company is expanding in different areas such as strategic consulting," Fleming added. Perot Systems competes with Andersen Consulting and EDS Corp. . It earned $19.1 million on $452.7 million of revenues for the first half of 1998. Internet advertising firm Modem Media Poppe Tyson is expected to open with the largest premium after its IPO because it is, most importantly, an Internet offering. The Westport, Conn.-based company provides digital interactive marketing solutions, such as website design, electronic business implementation and interactive advertising. It is offering 2.6 million shares in an expected range of $11 to $13 through lead underwriter BancBoston. The company is owned by True North , which holds 85 percent of the firm. Modem Media should benefit from client referrals from True North, the sixth largest advertising firm in the country. "It is a 100 percent Internet company. It's a competitive field and the barriers to entry are not high, but it is a really hot area," Fleming said. Jupiter Communications expects total online ad revenue to reach $5 billion by 2000. Another deal slated for this week is Austin, Texas-based Vignette, which provides Internet relations management software services to help build online customer relationships and Web-based revenue and market share. Terms have yet to be determined for the deal, led by Morgan Stanley.