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IPOs for overseas ISPs
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November 14, 1999: 5:53 p.m. ET
Two international Internet service providers to sell shares to the public
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NEW YORK (CNNfn) - For investors who missed Britain's Freeserve, India's Satyan or China.com, there's a new batch of overseas Internet service providers set to go public this week.
And if history's any guide, these debuts could soar.
Korea Thrunet, "KOREA," plans to sell 9.8 million shares priced in the $12 to $14 range. Terra Networks, "TRRA," a Central and South American Internet service provider, plans to float 22.7 million shares in the $10 to $12 range.
"Terra's going to be explosive," predicted Irv DeGraw, research director at World Financenet.com. "Anything that provides Internet services to Latin America is extremely strong."
But DeGraw and others reserve their frothiest optimism for Agilent Technologies, "A," a maker of diagnostic monitoring instruments that plans to sell 57 million shares in the $19 to $22 range.
"Agilent's the blowout," DeGraw predicted, saying shares in the Palo Alto, Calif.-based company could double from their offering price.
Tom Tauli, IPO analyst with Internet.com, also praised Agilent.
"Wherever they go they seem to be the leader," Tauli said. "There's lot of revenue there and a lot of growth as well."
In other IPOs on analysts radar screens, CacheFlow, "CFLO," which make appliances that manage the flow of information over the Internet, plans to sell 5 million shares in the $11 to $13 range.
"I would keep an eye on CacheFlow," Internet.com's Tauli said. "Anything that speeds content delivery on the Internet," should draw investor attention.
Rounding out DeGraw's list is Virata Corp., "VRTA." The semiconductor maker plans to float 5 million shares in the $11 to $13 range.
"This will get a better-than-average reception," he said.
But Mediaplex, said Internet.com's Tauli, could be the week's dark horse.
While the offering hasn't received much hype, Tauli is impressed with the Internet marketing firm's technology, which enables advertisers to deliver customized advertising messages to a targeted costumers.
In a deal underwritten by Lehman Brothers, Mediaplex, "MPLX," plans to issue 6 million shares in the $8 to $10 range.
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