By Polly Raymond, 12 November 1999 15:43
NEWS Shares in carrier giant, UPS, have jumped 35 per cent on US stock markets on the news that the company's IPO this week raised a staggering $5.47bn. The record flotation has been put down to the company's success in obtaining a lion's share of the market for distributing goods that are purchased online. The company's evolution towards ecommerce is borne out in claims by executives that UPS delivered half of all goods bought online last Christmas. According to US wires analysts claimed the huge valuation and over-subscription was based on the fact that UPS is not only a traditional company with real assets and revenues but is also repositioning itself into the emerging Net economy.
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