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Big slate of IPOs to come
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September 19, 1999: 4:54 p.m. ET
Flurry of tech companies slated to debut in busiest week in a month
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NEW YORK (CNNfn) - This week's initial public offering calendar, the largest in a month, brings numerous high-tech companies and several "dot.coms."
In the largest debut, Netzero, "NZRO," plans to offer 10 million shares in the $9 to $11 price range through lead underwriter Goldman Sachs. As a provider of free Internet service, Westlake Village, Calif.-based NetZero could garner lots of investor interest.
But at the same time, some analysts have questioned the business model of companies such as NetZero. With subscription-based Internet access already inexpensive, some wonder if consumers will put up with the advertising that the free Internet providers for target customers.
"People might get annoyed with the ads," said Charles Kaplan, IPO analyst with Equity Analytics.
When it comes to the week's offerings, Kaplan is eyeing one of the few non-technology names: Jore Corp., "JORE."
"They have a solid market position," Kaplan said of the maker of power tool accessories.
Ronan, Mont.-based Jore, which plans to offer 4 million shares in the $9 to $11 range, actually made money in 1998, earning $3.8 million on $44.8 million in revenue.
The week holds several delayed offerings. Among them is Cybergold, "CGLD," which plans to offer 5 million shares in the $7 to $9 range. The Berkeley, Calif.-based Internet marketing firm lost $4.6 million on revenue of $1 million in 1998.
Similarly, Medscape, "MSCP," a health information Web site that is 35 percent owned by CBS, plans to debut after at least one previous listing on the IPO calendar. The company plans to offer 6.6 million shares in the $7 to $9 price range.
The IPO of New York-based Medscape would come two months after drkoop.com (KOOP), a group of Web sites led by former U.S. Surgeon General C. Everett Koop, jumped 39 percent in its first day of trading.
Of the week's offerings, Stephen Tekirian, IPO analyst at Standard & Poor's, likes Alteon Websystems Inc., "ATON."
Tekirian says Alteon, which manages Web site traffic, could see solid growth. As a business-to-business company involved in the Internet's infrastructure, Tekirian sees Alteon's business model as more sound than those of Internet retailers.
"If the Internet grows, this will have to grow as well," he said.
Alteon plans to offer 3 million shares in the $14 to $16 range.
The week's other IPOs include Ashford.com, "ASFD," Bluestone Software, "BLSW," Broadbase Software, "BBSW," Calico Commerce, "CLIC," E.Piphany, "EPNY," eGain Communications, "EGAN," Freeshop.com, "FSHP," Interactive Intelligence, "ININ," Interspeed, "ISPD," Kana Communications, "KANA," Keynote Systems, "KEYN," Oratec Interventions, "OTEC," S.M.A. Real Time, "TVT," Smartdisk, "SMDK," Trintech Group, "TTPAY," Webstakes.com, "IWIN," and Yesmail.com, YESM." 
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