RealTime IT News

net.IPO Makes First-Year Profit

[London, ENGLAND] European Internet investment bank net.IPO Aktiengesellschaft announced Friday a preliminary operating income before tax of DM 3.2 million (US $1.56 million) in its first complete fiscal year to the end of March 2000.

In the year in question, net.IPO handled 20 initial public offerings and two capital increases on the Neuer Markt, and one other IPO on the Swiss New Market. It derived income from commission, investment, and interest amounting to DM 10 million (US $4.80 million).

Stefan Albrecht, chief executive officer of net.IPO, said he was very satisfied with the results.

"We will expand our successful business model in this second stage of growth to achieve a complete coverage throughout Europe. To this end we have already established net.IPO-Frankreich and net.IPO-Italien as the basis for future growth," said Albrecht.

In June, a huge placement of Deutsche Telekom shares opened a new chapter in net.IPO's new issue business, effectively establishing the first Pan-European Internet issuing platform.

For the first time, private investors in Germany, France, and Italy were able to subscribe for shares via netIPO.de, netIPO.fr, and netIPO.it.

net.IPO has achieved its key position in Europe largely by extending its reach through various financial information service providers, such as Wallstreet-Online in Germany, FinanceNet in France, and SoldiOnline in Italy.

net.IPO is currently expanding into Spain where it has a tie-up with Web Financial Group.

By means of its strategic alliances, net.IPO has attracted over 0.8 million private investors in addition to its user base in Germany of 115,000 members.

The outlook remains good, according to net.IPO. It reports a sharp increase in the placed new issue volume for the first months of the current fiscal year.