Last Week’s IPO’s: Calm Before the Storm

When telecom deals ring, investors answer. Carrier1 International (CONE) rose to $35.00 by the end of its debut on Thursday. It dropped slightly
on Friday to close at $31.50. The Luxembourg-based carrier is building a
high-capacity, low-cost cross-border fiber optic network in Europe. Part of the
proceeds are targeted for expansion of its voice, Internet and bandwidth
services.

With Europe still in the emerging stages of the Net, it will be a wise
use of proceeds.

Morgan Stanley Dean Witter was the lead underwriter.

Intersil’s debut was hot. By the end of the day, it stood at $54, a
nifty 116% increase. Intersil is a profitable company that provides
semiconductor sets for wireless local area networks. It reported profits
of $27.4 million on $352.8 million in revenue for fiscal 1999. Competitors
include Analog Devices and Lucent. The IPO was timely as there is a
high demand for chips due to expansion of cell phones and hand-held
computers. Customers include Cisco, Dell, Nokia,and 3Com.

Its underwriter was CS First Boston.

Nextel Partners (NXTP) opened Wednesday at $29, a premium from its $20
offering price. By Friday, it was at 35-15/16.

Nextel Partners provides digital wireless communications services in
mid-size and smaller markets in the United States. Venture capitalists
involved include TI Ventures, Adobe Ventures and H&Q Ventures.

The lead underwriter was Goldman Sachs.

DigitalThink (DTHK) had a smart IPO. The company offered 4.4 million
common shares on Friday. It launched at $14 and docked at $29 by the end
of trading. This shows that investors are learning to like online
instruction (OK, I’ll end the puns here).

The San Francisco-based provider of online learning services has
provided
custom-tailored courses to Intel, Adobe and Sun Microsystems.
International
Data Corp. forecasts that the e-learning market could grow to over $4
billion by 2003.

In other news, ValueClick (VCLK), an online advertisement specialist
company, let go of Prudential Volpe and switched to Goldman Sachs for its lead underwriter
(a major click upwards). Besides reducing their IPO to 4 million shares
from 5 million, they have also boosted the expected range to $11 to $13, up
from $9 to $11 per share.

When telecom deals ring, investors answer. Carrier1 International (CONE) (CONE)
rose past 34 by the end of its debut on Thursday before dropping slightly on
Friday to 31-1/2. The Luxembourg-based carrier is building a
high-capacity, low-cost cross-border fiber optic network in Europe. Part of the
proceeds are targeted for expansion of its voice, Internet and bandwidth
services.

With Europe still in the emerging stages of the Net, it will be a wise
use of proceeds.

Morgan Stanley Dean Witter was the lead underwriter.

Intersil’s debut was hot. By the end of the day, it stood at 54, a nifty
116% increase. Intersil is a profitable company that provides
semiconductor sets for wireless local area networks. It reported profits
of $27.4 million on $352.8 million in revenue for fiscal 1999. Competitors
include Analog Devices and Lucent. The IPO was timely as there is a
high demand for chips due to expansion of cell phones and hand-held
computers.

Customers include Cisco, Dell, Nokia,and 3Com. Its underwriter was CS First Boston.

Nextel Partners (NXTP) (NXTP) opened Wednesday at 29, a premium from its $20
offering price. By Friday, it was at 35 15/16.

Nextel Partners provides digital wireless

communications services in
mid-size and smaller markets in the United States. Venture capitalists
involved include TI Ventures, Adobe Ventures and H&Q Ventures.

The lead underwriter was Goldman Sachs.

DigitalThink (DTHK) had a smart IPO. The company offered 4.4 million
common shares on Friday. It launched at $14 and docked at 29 by the end
of trading. This shows that investors are learning to like online
instruction (OK, I’ll end the puns here).

The San Francisco-based provider of online learning services has
provided custom-tailored courses to Intel, Adobe and Sun Microsystems.
International
Data Corp. forecasts that the e-learning market could grow to more than $4
billion by 2003.

The lead underwriter CS First Boston.

ValueClick (VCLK), an online advertisement specialist company, let go of Prudential Volpe and switched to Goldman Sachs for its lead underwriter
(a major click upwards). Besides reducing their IPO to 4 million shares
from 5 million, they have also boosted the expected range to $11 to $13, up
from $9 to $11 per share.


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