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| FreeServe Limited |
| Maylands Avenue Hemel Hempstead, Hertfordshire, United Kingdom HP2 7TG |
| Business Description | The company is a leading U.K. Internet service that delivers both free Internet access and as a portal to the Internet, an integrated offering of U.K. focused content, e-commerce and services. |
| Offering Information Company has | |||
| Trading As | FREE (NASNTL) | Industry | Internet (SIC 7375) |
| Type of Stock Offered | American Depositary Receipts | Filing Date | 06/28/1999 |
| Domestic Shares Offered | 15,304,348 | Offer Date | 07/26/1999 |
| Foreign Shares Offered | 0 | Filing Price | - - |
| Company Shares | 9,000,000 | Offer Price | $23.67 |
| Selling Shrhldrs Shares | 6,304,348 | Gross Spread | $1.065 |
| Gross Proceeds | $362,253,918 | Selling | $0.639 |
| Expenses | - - | Reallowance | - - |
| Post-IPO Shares | 105,304,347 | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| CS First Boston | Lead Manager | (212) 325-2000 |
| Cazenove Inc. | Co-manager | (212) 376-1225 |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | - - Months Ending | ||||||
| Figures in U.S. millions except per share data | 05/01/1999 | ||||||
| Revenues | - | - | - | - | 4.402 | - | - |
| Income from Oper. | - | - | - | - | - | - | - |
| Net Income | - | - | - | - | -1.679 | - | - |
| E.P.S | - | - | - | - | -0.190 | - | - |
| Revenue Growth (%) | - | - | - | - | - | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | - | - | - | ||||
| Cash Flow - Inv. | - | - | - | ||||
| Cash Flow - Fin. | - | - | - | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 05/01/1999 | Financial Ratios | ||||
| Total Assets | 3.19 | Current Assets | - | Current Ratio | - |
| Total Liab. | 4.88 | Current Liab. | - | Debt Ratio | 153.10% |
| Total Equity | -1.69 | Working Cap. | -1.90 | Debt to Equity Ratio | - |
| Cash | 0.00 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for general corporate purposes including marketing, brand and content development, potential acquisitions and strategic investments. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Shearman & Sterling |
| Bank's Law Firm | Brobeck, Phleger & Harrison |
| Auditor | Deloitte & Touche |
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