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Strategies & Market Trends : LastShadow's Position Trading -- Ignore unavailable to you. Want to Upgrade?

To: John J H Kim who wrote (10933)	3/22/1999 1:44:00 PM
From: HandsOn	Read Replies (1) \| Respond to of 43080

It's up over a point since I looked at it,still good entry here?

To: John J H Kim who wrote (10933)	3/22/1999 2:30:00 PM
From: AlienTech	Read Replies (2) \| Respond to of 43080

>>My suspiscion is that OTEX ownership of MINE shares is not widely known. << Any idea what OTEX is worth? And it would be a good thign to buy some puts just in case on the day of the ipo. ops edit While there are probably some compelling reasons to own OTEX, the MINE IPO itself is not going to have much effect on the intrinsic value of OTEX. OTEX has 20,187,000 shares outstanding and it has a market cap of approximately $475,000,000. Even if MINE trades at $50 per share, the value of OTEX's 885,201 MINE shares will be worth only $44,260,050, or $2.19 per share. =Open Text Up Again On Expected IPO Of MiningCo.com TORONTO (Dow Jones)--Open Text Corp.'s (OTEX) shares are up 9.3% on Nasdaq, as MiningCo.com Inc. has doubled the expected share price of its pending initial public offering. Open Text owns 885,000 shares of MiningCo.com and an insignificant number of warrants. MiningCo.com, a community networking Internet site company, is expected to go public this week. Price talk for the IPO was $12 to $14 a share, but this has now increased to $24 to $25 a share. Internet IPOs continue to be very hot in the U.S. Last week, iVillage Inc. (IVIL), another Internet site company, but one aimed at women, launched its IPO. Price talk had also been $12 to $14 a share, but increased to $22 to $24. iVillage priced its IPO at $24 a share. The stock opened at 95 7/8 on Nasdaq, as is now trading at 76 1/4. Open Text got its stake in MiningCo.com by lending the company $3.9 million, effectively acquiring the shares at $4.41 each. The shares are subject to a lock-up for the six months following the IPO. Monday, Open Text is up 2 3/16 to 25 11/16 on Nasdaq on volume of 730,000 shares. In Toronto, the stock is up 2.70 to 38.25 on volume of 51,000 shares. Open Text, an acquisitive company, could eventually use any cash proceeds from the sale of its MiningCo.com shares for acquisitions or use its current higher share price for acquisitions as well, analysts said. Analysts said they don't know of other reasons why the company's stock is up Monday. -By Scott Adams; 416-943-7804; scott.adams@dowjones.ca (END) DOW JONES NEWS 03-22-99 01:36 PM