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Non-Tech : Goldman Sachs Group Inc. NYSE:GS -- Ignore unavailable to you. Want to Upgrade?

To: PCSS who wrote (44)	5/4/1999 7:47:00 AM
From: Mohan Marette	Respond to of 411

Goldman Sachs Lined Up Buyers of Shares Before IPO, WSJ Reports Michael: Agreed,no question about it. Now look what GS has done before they went public, there won't be too many flippers among the large institutional investors on this one from the looks of it.Yup she is a keeper. ========================= Bloomberg News May 4, 1999, 2:55 a.m. PT New York, May 4 (Bloomberg) -- Goldman Sachs Group Inc. lined up buyers of its shares before its initial public offering, in an unusual move that sought to cut the chance that investors would quickly sell its shares for a quick profit, the Wall Street Journal reported in ''Heard on the Street.'' Goldman told the IPO's underwriters not to select buyers -- as its share offering was oversubscribed by about 12 times -- though underwriters were paid as if the institutional investors bought shares from them. Underwriters including Morgan Stanley Dean Witter & Co., Merrill Lynch & Co., Bear Stearns Cos. and Credit Suisse Group's Credit Suisse First Boston could each get up to $4 million in fees, unnamed persons said; Goldman declined comment, the Journal reported. Goldman raised $3.66 billion in its IPO yesterday by selling a 14.8 percent stake, ending 130 years as a private partnership to become the fourth-largest U.S. securities firm by market value. news.com