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Back From the Brink? NYSE, NASD IPO Plans on Hold

Traders Magazine, October 1999

William Hoffman

Both major U.S. stock exchanges are now agreed: their public offerings of stock will wait at least until after the first of next year. But at least one is considering a new strategy for drumming up additional capital.

NASD may look into a private placement, prior to an IPO to fund its expansion and acquisition plans "in the short term," explained Scott Peterson, spokesman for the National Association of Securities Dealers. An initial public offering "won't happen in 1999," he added.

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