MF? You must have mistaken me for somebody else <g>. Seriously, I think it's way too early to be celebrating even though it feels great to smash thru the previous resistance of the 52 week high on unusually high volume. In other words, ANCR remains a highly volatile stock until they close/announce another 1-2 OEMs and address future NMS listing and build a warchest of cash to remain a going concern. The exploding awareness of Fibre Channel/SANs has made raising money much easier for ANCR going forward, especially with the BRCD, ZOOX IPO's and EMLX secondary offering. I believe that ANCR is waiting for a couple of pieces to fall into place before they make their financing plans public. Think about all the new investment bankers/analysts who are now touting FC/SANs to the Investment Community. FWIW, here's a report on this week's upcoming IPO's including BRCD:
New York, May 21 (Bloomberg) -- Three Internet companies -- bookseller Barnesandnoble.com Inc., securities broker DLJdirect, and StarMedia Network Inc., the largest online network in Latin America, will lead next week's initial stock sales.
Barnesandnoble.com, the 2-year-old online bookseller owned by Barnes & Noble Inc. and Bertelsmann AG, plans to sell 25 million shares at $11 to $13 each, raising $300 million. DLJdirect, the online brokerage unit of Donaldson Lufkin & Jenrette Inc., plans to sell 16 million shares at $18 to $20 each, raising $304 million. StarMedia Network Inc., whose Web site caters to Spanish and Portuguese speakers, plans to sell 7 million shares at $10 to $12 each, raising $77 million.
Investors will snap up shares of the three New York-based companies, said Tom Taulli, an IPO analyst based in Calabasas, California who is the author of ''Investing in IPOs.''
The overall market for Internet IPOs remains ''very strong,'' Taulli said. Even so, ''there are more Internet IPOs to choose from, so investors are gravitating towards those they have heard about.
BarnesandNoble.com is well known, thanks to the name of its parent, the largest U.S. bookseller, and has international exposure through Bertelsmann, which is the world's third-largest media company. The online company said it has sold books and other products to 1.7 million customers in 181 countries. It plans to use proceeds to pay its losses and improve its Web site.
DLJdirect will benefit from ''the hyper-growth of people investing online,'' and the high valuations of online brokerages such as E*Trade Group Inc., the No. 2 online broker, Taulli said. E*Trade's shares rose nine-fold the past year.
DLJ increased the size of the sale by 45 percent, raising the number of shares by 1 million to 16 million and the price to a range of $18 to $20 each, from $13 to $15 each. It plans to use proceeds to repay debt and for this year's $65 million advertising budget.
In addition to the Latin American market, StarMedia is very well-positioned to serve Spanish speakers in the U.S., Taulli said. The company's 17 Spanish and Portuguese channels offering news and shopping had 60 million page views in March, up from 7 million in December 1997.
Following are details of initial public stock sales expected next week with the companies stock tickers in parentheses.
Barnesandnoble.com Inc. (BNBN) -- The New York-based online bookseller owned by Barnes & Noble Inc. plans to sell 25 million shares at $11 to $13 each, raising $300 million. The sale is expected Monday by Goldman, Sachs & Co. with help from Merrill Lynch & Co. and Salomon Smith Barney Inc.
DLJdirect (DIR) -- Donaldson Lufkin & Jenrette Inc.'s New York-based online brokerage unit plans to sell 16 million shares at $18 to $20 a share, raising $304 million. The sale is scheduled for Tuesday by Donaldson, Lufkin & Jenrette Securities Corp. with help from BT Alex. Brown Inc., Goldman, Sachs & Co., Merrill Lynch & Co., Morgan Stanley, Dean Witter & Co., and Salomon Smith Barney Inc.
Starmedia Inc. (STRM) -- New York City-based StarMedia Network Inc., the largest online network in Latin America, plans to sell 7 million shares at $10 to $12 each, raising $77 million. The sale is expected Tuesday by Goldman, Sachs & Co. with help from BancBoston Robertson Stephens, J.P. Morgan & Co., and Salomon Smith Barney Inc.
Brocade Communication Systems Inc. (BRCD) -- The San Jose, California-based provider of switches that allow communication between computers and computer disk drives and tape drives, plans to sell 3.3 million shares at $15 to $17 each, raising $52 million. Morgan Stanley, Dean Witter & Co. is handling the sale, with assistance from BT Alex. Brown Inc. and Dain Rauscher Wessels.
DirectChef Inc. (DCHF) -- The Culver City, California-based distributor of foodservice equipment and supplies plans to sell 6.3 million shares at $10 to $12 each, raising $68.8 million. BancBoston Robertson Stephens will handle the sale, with assistance from Robinson-Humphrey Co. and Thomas Weisel Partners LLC.
Inet Technologies Inc. (INET) -- The Plano, Texas-based maker of telephone testing systems plans to sell 5.8 million shares at $13 to $15 each, raising $80.5 million. Goldman, Sachs & Co. is handling the sale, with assistance from Dain Rauscher Wessels and Hambrecht & Quist LLC.
Interliant Inc. (INIT) -- The Cambridge, Massachusetts-based company, which manages Web sites and provides Internet services for businesses, plans to sell 7 million shares at $9 to $11 each, raising $70 million. Merrill Lynch & Co. will handle the sale, with assistance from Donaldson Lufkin Jenrette Securities Corp. and CIBC World Markets.
Private Business Inc. (PBIZ) -- The Brentwood, Tennessee maker of software to help community banks provide accounts receivable financing to small businesses, plans to sell 5 million shares at $9 to $10 each, raising $47.5 million. BT Alex. Brown Inc. will handle the sale, with assistance from Lehman Brothers and Salomon Smith Barney Inc.
Saleslogix Corp. (SLGX) -- The Scottsdale, Arizona provider of software for mid-sized businesses to automate sales plans to sell 3.3 million shares at $9 to $11 each, raising $33.3 million. Hambrecht & Quist LLC is handling the sale, with assistance from BancBoston Robertson Stephens, U.S. Bancorp Piper Jaffray, and Charles Schwab & Co.
May/21/1999 19:04 |
