RealTime IT News

Shares in e-go Offered in Private Placement Online

[London, ENGLAND] Online equity distribution platform EO announced Friday that Enterprise Service Provider e-go systems is to offer shares via EO's placement service to raise £10 million (US $14.5 million) from private investors.

Shortlisted alongside Orange, Wildfire and Equant for the Most Innovative Service award in the World Communications Awards 2000, e-go bases its offerings on its unique "e-gocentricity" framework. This communications infrastructure is designed to help companies improve both their internal workflow and their external communications with customers.

Mark Stacpoole, chief executive of EO UK referred to e-go as "an exciting young company with great potential."

"The outsourced e-communications market is expanding rapidly, and further funding will allow e-go systems to reap the opportunities this presents," said Stacpoole.

Until EO came along to make early investment in companies available to all, IPOs and ground-floor investment was the sole province of institutions. EO has changed that by making equity product offerings to retail investors via its EO.net site.

Two early online offerings were the Carphone Warehouse IPO and the Visual Technology private placement, both of which were made on EO.net.

Ian Roberts, chief executive of e-go systems, was fully supportive of the EO philosophy.

"Retail investors have traditionally had a raw deal -- not having access to early investment opportunities in exciting high-growth companies. We want to ensure that the public has that opportunity in e-go," said Roberts.

Growing sophistication among private investors may go some way towards protecting them from buying potentially volatile stocks. However, investors will need to pay more attention than ever to examining the performance, management and prospects of companies offering shares in private placements online.

Launched in March 1998, e-go has expanded rapidly, achieving annual revenues of US$7.4 million, and has managment with experience of working at Lucent, AT&T, Nokia and Ericsson.

The offering in e-go opened Friday September 8.