Word: ipos
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...wealth comes from initial public offerings of stock, or IPOs, which are experiencing an unprecedented boom in the great bull market of the past two years. As the stock market has smashed records, more and more private firms, particularly technology companies, have decided to raise cash by selling equities to the public. More capital was raised in IPOs by emerging high-tech firms in 1995--$8.4 billion--than in any other year in U.S. history. And when an IPO is successful, the people who already hold shares in the company make out well. Sometimes very well. Sometimes unbelievably well...
...impossible to place a value on that stake. Now that Netscape stock is traded, it is easy to figure out: he has almost 20 million shares, and last week they were selling for $65.50. That makes Clark's stock worth more than $1 billion. On the day before the IPO, he simply owned a large piece of a company that had never shown a profit...
Like other IPO millionaires, Andreessen is careful to point out how difficult it would be for him to sell his stock. "You can't just sum up the total value of the stock and say that that's actually what somebody has in his pocket," he says. "There are a lot of both legal and practical restrictions on what actually happens to the money." Under the provisions of most IPOs, officers and executives who have stock or stock options cannot begin selling shares for several months. In addition, the sec places strict limits on the number of shares that officers...
...parent is being split that will sell new stock, in addition to distributing shares to present AT&T stockholders. An initial public offering of as much as $3 billion, which might be the biggest ever, is planned for late March. Allen concedes that "there is some pressure from the ipo to get things right and look further ahead than we might have." But he insists that the layoffs are being driven by unavoidable business changes...
...chart "Nowhere to go but Down?," which ranked currently traded stocks in terms of their first-day trading gains [CHRONICLES, Sept. 4], did not consistently reflect Boston Chicken's 2-for-1 stock split. The adjusted IPO price and first-day close price should have been $10 and $24.25, respectively. Thus Boston Chicken was not among highflyers whose recent stock price was below it's first-day closing price...