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IPOs charge ahead
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February 6, 2000: 8:37 a.m. ET
Big week in company debuts brings an online retailer and other tech firms
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NEW YORK (CNNfn) - The pace of initial public offerings shifts into overdrive this week, with a wide range of technology debuts coming to market. No less than 25 deals raising $2.1 billion are on the docket, according to IPO.com
"Next week there's a lot of deals that are all over the place in terms of" different technology sectors, said Corey Ostman, IPO analyst at Alert! IPO.com.
One of the most closely watched debuts will be buy.com, "BUYX." The online retailer with the enviable domain name plans to offer 14 million shares in the $10 to $12 range.
Analysts say the offering's performance will offer a key gauge of investor appetite for online retailers. Once the darlings of Wall Street, the sector last year took a back seat to high-flying network equipment makers, Linux providers and international Internet service providers.
"It will be interesting to see if an online retailer can come into this market and get a good response," Ostman said. "Everyone's heard of them but the question is whether they'll get the attention of the Street."
Jeffrey Hirschkorn, senior market analyst at IPO.com, also notes this shift in investors attitude away from the online retailers and into companies like fiber optic makers and international Internet service providers.
That's why he likes VIA Net.Works, "VNWI." The Internet access provider with a presence in European and Latin American markets plans to float 14 million shares in the $15 to $17 range.
"That area's primed for a good expansion," Hirschkorn said.
Alert! IPO's Ostman agreed. "They are definitely in the right segment right now," he said.
Both analysts also like webMethods, which is involved in the hot area of providing business-to-business electronic commerce services.
The company plans to sell 4.1 million shares in the $11 to $13 range.
Biotechnology and gene mapping firms have gotten a lot of attention this year. Antigenics Inc., "AGEN," a drug maker, leapt 30-3/8, or 169 percent, to 48-3/8, Friday. As such analysts this week will be watching Diversa, "DVSA."
The maker of biologically active compounds plans is selling 6.5 million shares in the $13 to $15 range.
Rounding out his list, Hirschkorn, likes Flag Telecom Holdings for the fiber optic network provider's growth potential.
Bermuda-based Flag plans to float 26 million shares in the $20 to $22 range.
And in a debut that's sure to cause a few smiles, Pets.com, plans to sell 7.5 million shares in the $9 to $11 range. The online pet supply retailer last month spent millions of dollars on Super Bowl advertisements featuring a singing sock puppet.
And in what's shaping up to be quite a cat fight, PetSmart.com on Friday filed to raise $115 million in its IPO. 
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