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Internet flotation rush

Internet companies are breaking the January mould by floating on stockmarkets.

Traditionally January is slow for new stocks, but experts believe an internet company flotation rush is being caused by high private investor demand for technology stocks.

In Europe, new flotations will include Lycos and Bertelsmann who are set to take their internet joint venture to Frankfurt-based Neuer Markt.

In the US, portfolio manager for the initial public offering fund at Renaissance Capital Lynda Killian says: “This time last year we had just finished the longest IPO drought in memory, but we&#39ve the opposite issue now. There are 169 companies in the pipeline and internet IPOs account for about 60 per cent.”


Portman expels carpetbagger rebel

Portman Building Society are getting tough with carpetbaggers by expelling demutualisation ringleader Richard Yendall.The society are describing his membership as not “appropriate” to the society&#39s long-term aim of remaining mutual.The move to expel the spokesman leaves the other carpetbaggers vulnerable to the same fate and follows Portman&#39s rejection of a member resolution to re-consider […]

Lloyds TSB Euro push

Lloyds TSB is set to develop an internet stepping-stone into Europe.It has confirmed reports it is developing a “European internet offering” but would not confirm the timetable and cost of the proposal.It already operates overseas in New Zealand and Latin America.A spokesperson says: “We are interested in developing our e-commerce side of the business and […]

BoS war of words with NatWest

Bank of Scotland has hit out at National Westminster Bank&#39s defence strategy as “selective and unrepresentative” in the latest snipe of the hostile takeover bid for the bank.The attack responds to Natwest&#39s defence document which slated most banking mergers as destroying value.But BoS says Natwest&#39 s defence “clearly indicated its failure to understand the dynamics […]

House price surge for December

House price inflation surged 2.6 per cent in December, according to the Halifax.The 2.6 per cent rise was the second biggest monthly increase of 1999.The increase takes the average house price to £83,108.


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