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Barnes & Noble, Inc. Message Board

  • MaxRampage MaxRampage Aug 20, 1998 4:32 PM Flag

    BKS IPO question

    this IPO thing is getting kind of confusing. will we be getting IPO shares or what? or do we just get the money from selling the IPO?

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    • Although it is quite premature my thoughts would
      be that existing shareholders would not get shares
      automatically in the IPO. A recent example of this would be
      SGI's spin-off of MIPS. Existing shareholders get the
      benefit from the cash raised and returned in form of
      dividend to parent and the future income of the new
      company through the remaining ownership.

      • 1 Reply to smodbu
      • B&N can structure the spinoff/IPO in whatever
        manner it thinks will generate the most value for BKS
        shareholders. (That is the ultimate purpose of this whole
        endeavor, at bottom.) Current shareholders may or may not
        receive shares in the new company; my guess is that we
        will. (When AT&T spun off Lucent, T shareholders
        received a proportional number of LU shares -- that sure
        turned out to be a sweet deal...) Basically, we will all
        have to wait until the IPO registration is filed --
        all the details will be set forth
        therein.

        Someone asked about the new company's ticker symbol --
        there ain't none, yet. But I assume that the spun-off
        company will be traded on NASDAQ, not NYSE.

 
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