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MARKET SAVVY | SAVVY CONFIDENTIAL: A Briefing for Investors

Drugstore.com Leads Today's IPO Lineup

July 28, 1999|Reuters, Bloomberg News

The stock market's rebound Tuesday gave many companies waiting to go public the courage to make the leap.

Among the initial public offerings priced late Tuesday (all will begin trading today on Nasdaq):

* Drugstore.com (ticker symbol: DSCM), a Bellevue, Wash.-based online pharmacy, raised $90 million by selling 5 million shares at $18 each, far above the original expected price range of $9 to $11.

Amazon.com and billionaire Paul Allen hold large stakes.

* Quokka Sports (QKKA) sold 5 million shares at $12 each, in the middle of its expected price range of $11 to $13, which was recently raised. The firm is an online sports entertainment programmer based in San Francisco.

* Packeteer (PKTR), a Cupertino, Calif.-based firm whose software helps fix computer-networking bottlenecks, priced 4 million shares at $15, or $1 above the top of the expected range.

* National Medical Health (NMHC) sold 2 million shares at $7.50 each. The Port Washington, N.Y., firm provides prescription benefits management services.

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