ORANGE COUNTY, Calif., March 9, 2002 (PRIMEZONE) -- Financial News USA is pleased to announce the publication of its new guide to Billion Dollar IPO Spinoffs now available on its site at:
http://www_financialnewsusa_com/03092002alertsbiliondollaripospinoffs.html.
According to CBS Market Watch's Steve Gelsi in "Chipping off the old block Billion-dollar spinoff IPOs leap back into the limelight" Corporate America's strategy of hoisting its subsidiaries onto the IPO auction block is proving as successful as ever. Blue-chip companies the likes of Citigroup (NYSE:C), Merck (NYSE:MRK), DuPont (NYSE:DD) and small cap's alike are following suit. Citizens Capital (OTCBB:CAAP), a next generation acquisition company, is currently executing similar spinoff strategies for its operating units (www.citizenscap.com/fx).
Citigroup, Merck, and DuPont and many other public companies are hoping to raise billions of dollars this year by taking its units public. To put the size of these IPO Spinoffs in perspective, take a look at Travelers which plans to become the largest IPO by an insurer in U.S. history by selling 210 million shares at $16 on the low end.
For a free 30 day trial membership and complete list of Top Spinoffs and terms of service - disclaimer please visit our web site.