RealTime IT News

IPO Tracker: On All Cylinders

Next week, expect the IPO market to be in full force. There are 27 IPOs planned.

On the hot list is CoSine Communications. The company is a developer of software and hardware for communications networks. Examples of applications include: extranets, intranets and remote access virtual private networks. In fact, CoSine Communications has built its platform using an open architecture model.

As communications networks become more complex, it is critical for companies to be able to customize their solutions. Apparently, CoSine Communications makes this much easier. And the customer base is impressive: Qwest, American Metrocomm, and Internet Initiative Japan.

For the first six months of 2000, the company had $11.3 million in revenues. Losses? $57 million.

The lead underwriter is Goldman Sachs and the price range is $15-$17 (the company intends to issue 10 million shares). The proposed ticker symbol is COSN.

Another IPO worth looking at is Advanced Switching Communications. Essentially, the company develops highly compact software that helps to transmit voice, data and multimedia data. What's more, the technologies integrate seamlessly with existing communications systems and the installations are not difficult, so companies can get to market faster.

In the first six months of 2000, the company had $12.9 million in sales. Although, losses were $11.9 million.

The lead underwriter is Morgan Stanley and the price range is $13-$15 (the company plans to issue 6.25 million shares). The proposed ticker symbol is ASCX.

And here are two more:

1. Vastera: The company develops technology solutions to manage the complexities of international trade, such as a comprehensive database of regulations, collaboration tools and management consulting services. The company has more than 200 customers. I wrote about this company in an IPO Tracker column. The lead underwriter is DB Alex Brown and the price range is $11-$13 (the company plans to issue 6 million shares). The proposed ticker symbol is VAST.

2. Simple Technology: The company is a developer of standardized and custom memory products, such as for DRAM, SRAM and Flash (in all, the company has more than 2,500 products). The lead underwriter is Lehman Brothers and the price range is $10-$12 (the company plans to issue 6.36 million shares). The proposed ticker symbol is STEC. I also wrote an IPO Tracker column on this company.