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Technology Stocks : United Pan-Europe Communications - UPC (UPCOY) -- Ignore unavailable to you. Want to Upgrade?

To: Jon K. who wrote (1)	2/8/1999 12:32:00 PM
From: Rajiv	Read Replies (1) \| Respond to of 95

UPC Raises Share Price Range to Between EU27 and EU29 in IPO Amsterdam, Feb. 8 (Bloomberg) -- United Pan-Europe Communications NV, the Netherlands' largest cable company, said it's raising the price range for shares in its initial public offering to between 27 and 29 euros ($30-$33) from 24 to 27 euros due to strong interest. The company also extended the subscription period for Dutch private investors to 5 p.m. local time Wednesday from 12 p.m. that day. The shares are likely to start trading the following day. Amsterdam-based UPC aims to raise as much as $1.25 billion in its initial public offering, representing about a third of the company. UPC will remain majority-owned by United International Holdings Inc., whose shares rose 23 percent last week on strong interest in UPC's shares. UPC will use the funds to upgrade its broadband cable network, which passes 6 million homes in 10 European countries and Israel. The company aims to offer fixed-line telephone service and Internet access across Europe in addition to cable television. Microsoft Corp., the world's No. 1 software maker, has agreed to invest $300 million in UPC to push high-speed Internet access in Europe. Separately, Israeli holding company Discount Investment Corp. agreed to buy $45 million in UPC shares to gain a toehold in Europe. The sale is being managed by Goldman, Sachs & Co. and Morgan Stanley Dean Witter. NYSE/AMEX delayed 20 min. NASDAQ delayed 15 min.