By Tony Hallett, 21 September 1999 15:47
NEWS British Internet auction company QXL.com has announced an initial public offering (IPO) that values it at between £212m and £242m. It will price its shares at between 180p and 205p, although when it floats on the London Stock Exchange and Nasdaq on 14 October, the opening price could well be higher, depending on demand. The offering is open to institutional investors around the world, or retail investors in the UK, Jersey and the Isle of Man prepared to part with at least £500. Last week, a prospective valuation of £400m was touted for Internet travel firm lastminute.com. However, after shares in Freeserve - the UK's largest pure Internet company - fell below the issue price of 150p this week, there are fears about the market.
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