By Sarah Left, 17 March 2000 12:55
NEWS World Online, a pan-European Dutch ISP, received a warm welcome when it floated on the Amsterdam stock exchange today. An initial per-share price of E43 (£26) values the company at E12.2bn (£7.5bn), but early trading saw shares changing hands for E50 (£31). Pre-IPO grey trading had the company's potential value soaring in excess of E22bn (£13.5bn). The company - which currently operates in 15 countries - claims to have 1.5 million consumer subscribers and 34,000 business clients. Principal shareholders include Intel Dutch industrial conglomerate, Reggeborgh Beheer and Swiss investment group, the Sandoz Family Foundation. The IPO will make millions for World Online's founder and executive chairman, Nina Brink, who holds a minority stake.
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