Investors Still Infatuated with IPOs

Since late January, the IPO market has been roaring. Even such things as
negative comments from Alan Greenspan can’t stop the IPO gravy train.

Net2000 (NTKK), a telecommunications company, opened on Tuesday at $20 and
continued to 35 1/16 on its first day of trading . By Friday, it had
settled at 31 5/16.

Net2000, a Virginia-based company, provides high-speed local and long
distance data and Internet services to over 1,000 businesses over its
fiber-optic network.

The IPO gave the company a cool $200 million market capitalization.
Goldman, Sachs was the lead underwriter.

With the successful debut last week of AsiaInfo (ASIA), investors still
seem feverish in their demand for overseas issues in Asia. Crayfish (CRFH),
which provides e-mail services to nearly 40,000 small and mid-sized
businesses, was Wednesday’s special of the day.

Crayfish started at $24.50 at its opening and ended at 126. But by Friday,
investors seemed to have indigestion and it fell to 85 15/16 (hey,
sometimes IPO investing can be like eating bad sushi).

Morgan Stanley Dean Witter was the lead underwriter.

Iprint (IPRT), the Redwood City, Calif. company, raised about $45
million in proceeds on its debut on Wednesday. It finished its first day
of trading at 13 ?. By Friday, it stood at 24. Not bad, considering that
the e-commerce market has been hit hard lately.

Iprint’s online print shop focuses on small business and consumers. They
offer customized, short-run printed products. 3M and OfficeMax have made
alliances with Iprint.

Credit Suisse First Boston was the lead underwriter.

Riverdeep (RVDP), an Irish educational software company, specializes in
Math, Science and Language Arts software. Yes, this is the stuff that kids
love to hate. But investors were liking the IPO.

On its Thursday opening, it closed at 66 55/64, up from their initial
offering price of $20. On Friday, it fell to 56-1/4,

This Dublin-based company creates educational software for the K-12 market
for delivery over the Internet. Their development and production facilities
are located in Ireland, Israel, and Massachusetts.

Actually, the online education market has been red-hot. One of the latest
winners has been DigitalThink, which has a market capitalization close to
$2 billion.

Credit Suisse First Boston was the lead underwriter for Riverdeep.

OTG Software (OTGS) debuted Friday at $19 and ended strongly at 56
3/16. Although it has not shown a profit, investors liked its revenue
prospects. Its 1999 revenue was $25.4 million, up from the $17.3 million
in 1998.

OTG Software allows businesses to manage their online data over a variety
of network architectures. American Airlines, PSINet, the University of
Miami and
the U.S. Navy are a few of their customers.

Credit Suisse First Boston was the lead underwriter.

Selectica (SLTC) opened Friday at $30 and ended the day at 141 15/64.

A Silicon Valley firm, Selectica’s Internet software and services help
companies sell complex products and services over intranets, extranets and
the Internet. They also target personal computers, in-store kiosks and
mobile devices.

Credit Suisse First Boston was the lead underwriter.

Gt Group Telecom

(GTTL) opened Friday at $14 and ended at 23 3/8. The
company provides Internet data and voice services to businesses in Canada
on their national broadband network. The company’s services include
private networking, Web application hosting and e-commerce.

Goldman, Sachs was the lead underwriter.

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