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Technology Stocks : Perot Systems (PER) -- Ignore unavailable to you. Want to Upgrade?

To: phil davidson who wrote (103)	2/2/1999 8:01:00 PM
From: Mohan Marette	Respond to of 542

Super Tuesday - Perot Systems more than doubles By Darren Chervitz, CBS MarketWatch Last Update: 5:12 PM ET Feb 2, 1999 Also: NewsWatch NEW YORK (CBS.MW) -- The votes are being tallied, and it looks like this Tuesday will be a much more successful one for former presidential candidate Ross Perot. Perot's information technology consulting firm, Perot Systems (PER), opened at 33 3/4, more than double its offering price, and then proceeded to rise another 9 3/4 points by the close of trading. Perot Systems priced its 6.5 million share IPO at $16 each, at the high end of a pricing range that had already been increased twice in the past week. Perot Systems originally expected to sell 5.5 million shares at $11 to $12 each, according to the company's earlier IPO filings. Not that he needs the extra dough, but Perot stands to get much richer from the offering. He owns 31.7 million shares of the company. See related story. Morgan Stanley Dean Witter is the lead underwriter. The stock had not yet opened for trading, but early indications put shares opening between 30 and 34. MedE America (MEDE), a health care software developer, also did well on its first day of trading. The company sold 4.9 million shares at $13, at the low end of the original $13 to $15 range, via lead underwriter Salomon Smith Barney. The company, which says it processes more than 900,000 claims transactions per day, did up the number of shares in the deal from 3.6 million. The stock opened at 15 3/8 -- the price most investors were able to buy the stock -- and closed the day at 19 5/8. MedE first filed for an IPO way back in June of last year. Perot and MedE will be followed by a number of anticipated deals. General Motors' (GM) spin-off Delphi Automotive Systems should provide the U.S. IPO market with its first billion-dollar plus deal of the year. The auto parts maker expects to sell 100 million shares at $15 to $18 each. Morgan Stanley is also at the helm of this deal. Other deals to watch Interactive ad agency Modem Media Poppe Tyson, which plans to sell 2.6 million shares at $11 to $13, is expected to benefit from its Internet connections. However, the company hasn't yet boosted the terms of its IPO, which is being handled by BancBoston Robertson Stephens. Two deals from Morgan Stanley are giving it a second attempt this week. Both Healtheon and Del Monte Foods, which couldn't complete deals planned last year, are tentatively slated to go public. Healtheon, a provider of Internet-based technology for health care providers, hasn't yet set the terms for its deal, while canned food king Del Monte looks to sell 18.8 million shares at $16 to $18. ( courtesy CBS MarketWatch)Darren Chervitz is a reporter for CBS MarketWatch. cbs.marketwatch.com