Palm IPO predictions top $9bn

NEWS The upcoming initial public offering (IPO) of shares in Palm Computing could mean the company ends up with a market value of almost two-thirds its current parent, 3Com. According to a filing with the US Securities and Exchange Commission (SEC), selling off 23 million shares at the high-end of Palm's $14 to $16 price bracket will raise as much as $368m and value the whole venture at $9.1bn - almost two thirds of 3Com's $15.9bn. The IPO - scheduled for four weeks from today - will also see a public value put on stakes in the company recently taken up by AOL, Motorola and Nokia.