eBay fixes price of shares

On-line auction house, eBay, wants investors to fork out $170.00 per share to help it raise more than $1 billion. The company first announced its intention to offer 6,500,000 shares of common stock last month although what it plans to do with the cash is still a bit of a mystery. Of the 6,500,000 million shares available, 4,250,000 are being offered by the company and a further 2,250,000 are being sold by existing stockholders. Goldman, Sachs & Co and Morgan Stanley Dean Witter are acting as the lead underwriters for the offering. Other underwriters for include BancBoston Robertson Stephens, BT Alex Brown and Donaldson, Lufkin & Jenrette. eBay expects that the shares will be delivered to the underwriters on April 16, 1999. ®