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Barnes & Noble, Inc. Message Board

  • LAwildone LAwildone Apr 8, 1999 2:30 PM Flag

    BKS.com IPO

    Folks:
    I just talked to investor relations at
    BKS and here is the skinny on the IPO as it related
    to current B&N shareholders:
    WE DON'T GET SQUAT,
    as far as IPO shares are concerned, not even an
    opportunity to get in at the IPO price. BKS.com is being
    created as a separate entity wherby B&N and Betlessman
    are selling a stake in the online operation which
    they currently own jointly. The only benefit to
    current B&N shreholders will be any implied value in the
    stock price from having a 40-45% ownership of BKS.com
    (which is the money losing division of B&N as we all
    know). When i asked firther as to how will losses or at
    some point profits from BKS.com affect B&N bottom line
    in the future, I was told that this has not been
    exactly worked out yet. The bottom line is that any price
    appreciation in the stock of B&N as a result of the IPO will
    be an implied one based on how Wall Street and
    individual investors value the 45% stake in theonline
    operation once it is spun off. As a current shareholder I
    am wondering whether to take my money and run, in
    light of this news. Shareholders,let me know your
    thoughts

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