Feeds

Freeserve float massively over-subscribed

Stock shortages and reduced allocations in the offing

  • alert
  • submit to reddit

Maximizing your infrastructure through virtualization

If you applied for shares in Freeserve, you might not get as many as you thought you would. Demand for the shares has been overwhelming and brokers are talking about a real stock shortage and a tenfold over-subscription. The deadline for applications is 1pm tomorrow. Freeserve users were given first dibs on the shares, but the powers that be (Freeserve and its brokers) have reserved the right to decide on share allocations if the issue were oversubscribed. Freeserve says it will announce its decision on Monday, but would not comment any further. The controversy over the value of the company continues, with some brokers warning clients to keep a healthy distance. Miles Saltiel of Panmure Gordon told the Daily Telegraph that Freeserve was "deliberately creating an institutional scramble for stock". The shares, which have been hit by the news of AOL's planned free Internet access in the UK, will be sold at around 130-150 pence each, but Saltiel said they are only worth 60 pence. Freeserve made a loss of £1 million last year on sales of £2.7 million. ®

The Power of One Infographic

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
Airbus promises Wi-Fi – yay – and 3D movies (meh) in new A330
If the person in front reclines their seat, this could get interesting
UK Parliament rubber-stamps EMERGENCY data grab 'n' keep bill
Just 49 MPs oppose Drip's rushed timetable
Samsung threatens to cut ties with supplier over child labour allegations
Vows to uphold 'zero tolerance' policy on underage workers
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
ITC: Seagate and LSI can infringe Realtek patents because Realtek isn't in the US
Land of the (get off scot) free, when it's a foreign owner
prev story

Whitepapers

Reducing security risks from open source software
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Application security programs and practises
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.