Feeds

MP3.com upgrades IPO details

French institutional buyer forces share price hike

  • alert
  • submit to reddit

Top 5 reasons to deploy VMware with Tegile

Online music seller MP3.com has upgraded the price of its shares to be offered in its upcoming IPO, the company has told the US Securities and Exchange Commission. The shares will now be offered at $16-18 each, up 70 per cent on the $9-11 it originally filed. That values the company at a staggering $1.2 billion. MP3.com will also issue 12.3 million shares, up from the nine million it first said it would offer. However, all the extra shares -- 27 per cent of the total -- will go to French investment company Groupe Arnault. As part of the deal, Arnault will spend $150 million advertising on MP3.com's Web site. News of MP3.com's changes comes on the first day of trading after online music technology company Liquid Audio made its own IPO. It sold 23 per cent of the company's total stock for $15 a share. By the end of trading, shares were exchanging hands for $35.56. This despite the company's claim it will not see a profit before 2002. ®

Secure remote control for conventional and virtual desktops

Whitepapers

Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
Getting started with customer-focused identity management
Learn why identity is a fundamental requirement to digital growth, and how without it there is no way to identify and engage customers in a meaningful way.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Reducing the cost and complexity of web vulnerability management
How using vulnerability assessments to identify exploitable weaknesses and take corrective action can reduce the risk of hackers finding your site and attacking it.
Top 5 reasons to deploy VMware with Tegile
Data demand and the rise of virtualization is challenging IT teams to deliver storage performance, scalability and capacity that can keep up, while maximizing efficiency.