Agree!! Here we go again..........
and back for more.
Something happened with post 499?
IPO spin-city. It won't be long before the venture capitalist who involve themselves in publicly traded companies will start coming out of the woodwork, the hedges, like the termites they are, parasites, have bored enough holes, and eaten enough wood that the frame of the house is shaky, but it will allow those who were boroughed in deep to surface now.........what will it be this time around?, technology, oil, uraninum, realty, nah! they've done this already. How about just raising $1.15 billion from the public, that should pay for a few nights out on the town. The Host will be Goldman Sachs, and the Carlyle Group who courted the Bin Ladens, and old man Bush, along with a few friends to a stock holders meeting just prior to 911 in NY. The Bin Landens plane was the only plane allowed to get airborne other than military planes or Airforce One on that day. We can see that they are a closely knit family. The Carlyle Group also made a tiny sum of money at the outbreak of the War in Iraq.
This just may be the first round, more than not a 2nd offering is usually in the works.
Cobalt International files for IPO
Oil exploration company Cobalt International files for IPO
On Saturday September 5, 2009, 3:40 pm EDT
Companies:Energy, Inc.International Energy Inc.
NEW YORK (AP) -- Oil exploration company Cobalt International Energy Inc. said it plans to raise up to $1.15 billion with an initial public offering on the New York Stock Exchange.
The filing was made Friday with the U.S. Securities and Exchange Commission. Cobalt plans to apply to list its common stock under a "CIE" ticker.
Money raised from the IPO will be used for drilling and exploration through 2011, as well as for general corporate purposes, the company said in its filing. The 4-year-old company said it doesn't expect to generate any revenue from production before 2012.
Cobalt, based in Houston, explores reservoirs in the deep-water basins in the Gulf of Mexico and West Africa. Investors in the company include Goldman Sachs, The Carlyle Group and First Reserve Corp. CEO Joseph Bryant is a former president and CEO of Unocal Corp. He also worked at BP and Amoco.
The number of IPOs so far this year has been paltry compared to the hundreds of companies that went public just a few years ago. But the pace has picked up recently with the stock market's recovery.
