Feeds

T-Online puts IPO to the ballot

Avoids Lastminute.com error

  • alert
  • submit to reddit

High performance access to file storage

T-Online's chairman, Wolfgang Keuntje, told German business television channel n-tv that he has not excluded the possibility of offering shares in his company via a lottery. The details of how it would work are not clear yet, he told n-tv, but the demand is so high that a traditional quotation is just not possible. T-Online, the number one ISP in Germany with seven million subscribers, is a fully owned subsidiary of Deutsche Telekom. AOL Germany is number two. About 21 per cent of 28 million German households have an Internet connection. The bookbuilding will run from 3 April to 12 April, with First Notice on 17 April. Only ten per cent of T-Online's capital will be floated - about 100 million shares. T-Online will price its IPO conservatively, according to Keunte. He would prefer to have a positive market debut than "end up seeing the stock fall in the first days after issuance", the FT reports. But generous pricing will stoke up demand even further. The lottery idea will be necessary if the demand for shares of T-Online are as mad as the demand was for Infineon, the Siemens semiconductor unit spin-off. Infineon was 33 times oversubscribed in the days leading up to its market debut. Raising E6 billion ($5.82 billion), it was the biggest IPO in the country since Deutsche Telekom. The former monopoly-holder's IPO in November 1996 raised E13.19 billion ($12.8 billion). Lastminute.com's recent IPO left many retail investors dissatisfied. In an attempt to keep everyone happy, the company sold shares to everyone who applied - all 200,000 of them. Unfortunately, each new shareholder was left with just 35 shares apiece, worth under £150 at IPO day, too few to make a profit (once dealing costs are taken into account). This week, with the beginning of official trading in Lastminute stock, has seen an exodus of disgruntled retail investors - and a big fall in the company's share price. Lastminute's share price rallied yesterday to close up 19.5p at 307.5p, well underneath its 380p IPO price. ®

High performance access to file storage

More from The Register

next story
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Nokia offers 'voluntary retirement' to 6,000+ Indian employees
India's 'predictability and stability' cited as mobe-maker's tax payment deadline nears
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
It may be ILLEGAL to run Heartbleed health checks – IT lawyer
Do the right thing, earn up to 10 years in clink
France bans managers from contacting workers outside business hours
«Email? Mais non ... il est plus tard que six heures du soir!»
Adrian Mole author Sue Townsend dies at 68
RIP Blighty's best-selling author of the 1980s
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Analysts: Bright future for smartphones, tablets, wearables
There's plenty of good money to be made if you stay out of the PC market
prev story

Whitepapers

Mainstay ROI - Does application security pay?
In this whitepaper learn how you and your enterprise might benefit from better software security.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Mobile application security study
Download this report to see the alarming realities regarding the sheer number of applications vulnerable to attack, as well as the most common and easily addressable vulnerability errors.