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Technology Stocks : Safeguard Scientifics SFE -- Ignore unavailable to you. Want to Upgrade?

To: Tae Spam Kim who wrote (2793)	5/11/1999 6:39:00 PM
From: still learning	Respond to of 4467

Since I saw about 66 mm shrs outstanding, looks to me like SFE owns 20% or 13 million of them, plus another 15%, or 8 mm shrs owned by Safeguard 98 Capital LLC. What puzzles me is that SFE Capital must be different from SFE Private Equity Partners because it doesn't show up under their part of the SFE web page. Net net, SFE effectively seems to own at least 21 mm shrs, or 33% of the co, not the 26% I've seen on the web page. Only explanation is if SFE only own part of SFE 98 Capital. Otherwise, I don't know what to make of it. If they price ICGE at $20-21 (just a guess) that means 10-11 million shrs will be offered. Assuming SFE gets to allocate about 1/4 of them, or 2.5 million. Based on their CC, you need 500 shrs of SFE to get an allocaton. There will probably be a 1:10 ratio for subscribing to the IPO. My best guess is it closes at $60 shr on day 1. That means a mkt cap of just under $4 B. BTW, I think $4B would be a very conservative mkt cap, but don't expect it to go much higher, and could be anywhere between $2-4 B. CMGI will still get the premium mkt cap, given its track record, but ICGE could give them a run for their money soon. Real issue is how the inuts hold up thru the end of the year.