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NetBenefit IPO – will it float or sink

UK enthusiasm for Web stocks is yet to be proved

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Investors will be watching tomorrow's flotation of NetBenefit with a great deal of interest as it should prove an acid test of the UK's appetite for Net stocks. While the love affair between Net stocks and the US is well documented, the UK's ardour is less apparent. The London-based Internet services company will be only the second UK Net company to go public when it joins the Alternative Investment Market (AIM) in the morning. NetBenefit is hoping to raise £4.45 million when it places 3,352,900 ordinary shares each at 200p per share for sale tomorrow. The company wants the cash to help it grow both "organically and by acquisition." In particular it is looking to develop markets in the UK, US and France. NetBenefit's financial director, Alison Sparshatt, said: "It's very exciting at the moment. "There has been quite a lot of interest in the marketplace." NetBenefit supplies domain name registrations to both the consumer and corporate markets in the UK and also provides Web hosting, ecommerce and email services. ®

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