Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Working All Day, But Trading Behind the Bosses Back Thread -- Ignore unavailable to you. Want to Upgrade?

To: Manny who wrote (617)	2/24/1999 6:33:00 PM
From: Mark[ox5]	Read Replies (1) \| Respond to of 779

Some IPOs to watch: Anticipated offerings expected by end of first quarter By Darren Chervitz, CBS MarketWatch Last Update: 1:53 PM ET Feb 24, 1999 See: Full Story Software Report NEW YORK (CBS.MW) -- Internet players iVillage and FlashNet Communications took one step closer to making their U.S. stock market debuts by setting estimated terms for their upcoming offerings . iVillage, a women's Web site publisher, said it expects to sell 3.65 million shares at $12 to $14 each, according to an amended IPO registration statement filed with the Securities & Exchange Commission. After giving effect to the IPO and a recent 3-for-1 reverse stock split, the company will have 23.2 million shares outstanding. Assuming a $13 offering price, that places a $301.6 million market cap for iVillage, which recorded a loss of $43.7 million in 1998 on sales of $15.0 million. The assumed 20.2 price-to-trailing sales multiple for iVillage compares favorably to stocks of other new media companies, such as the 36.8 mutiple for Cnet (CNET) (which is profitable) and the 23.8 multiple for SportsLine (SPLN). See earlier analysis of iVillage IPO, which Goldman Sachs is underwriting. Meanwhile, FlashNet Communications said it expects to sell 3 million shares at $12 to $14 each. With 13.2 million shares outstanding after the IPO, FlashNet would have a $171.6 million market cap, or about $953 per subscriber, at a $13 offering price. By comparison, leading consumer-based Internet service providers EarthLink (ELNK) and Mindspring (MSPG) are valued at about $2,059 and $2,618 per suscriber, respecitvely. Prodigy Communications (PRGY) and Pacific Internet (PCNTF), two other consumer-based ISPs that have gone public so far this year, have both recorded sizable gains above their offering prices but remain well below their highs. At recent trading prices, Prodigy has a market cap per subscriber of $3,126 while Pacific's market worth stands at about $1,969 per subscriber. BancBoston Robertson Stephens is the lead underwriter for FlashNet, which is presenting at the investment bank's technology conference in San Francsico on Wednesday. On Tuesday, online financial research provider Multex.com set estimated terms of its offering, placing a $9 to $11 pricing range for its 3 million share offering.