Griffin Speculators Investment Club
Lastminute.com
(LCM.L)
www.lastminute.com
Content provider for, and operation of, lastminute.com website.
Why
we bought the share
Lastminute are due to float on the stock market in March
via an
IPO (Initial Public Offering). This is already tipped to be
over subscibed which should lead to the shares trading at a premium
when they open on the stock market. iii recently floated in the
same way and their share price has been trading at between 125%
and 150% premium since trading started.
The company run the web site of the same name which specialises
in last minute deals for holidays, theater and event tickets.
They have a number of deals with large travel companies to sell
spare capacity on holidays and flights. A recent servey
identified that 47% of people in London and 23% outside of
London had heard of the company. This is very good for such a new
company.
New Media Spark a new internet startup company also hold a
share of Lastminute.com.
Short term I think this will make us a profit due to the float
being heavily oversubscribed. Longterm there is much more
uncertain so we may have to watch this carefully to see what
happens. This will also give the club experience in new issues
and the change to buy into a new company with no dealing costs
and a good change of an initial profit."
And
since ...
15/04/00 - After an initial rise the shares have fallen
heavily along with other tech stocks to 157p.
STANDING DATA
N/A