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blankseplocked ISS Providence IPO sells out in first phase
 
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Count TaSessine
Caldari
Koshaku
Interstellar Starbase Syndicate
Posted - 2006.03.11 20:53:00 - [1]
 

Edited by: Count TaSessine on 11/03/2006 21:03:20
Dear Eve-community

Our Providence Initial Public Offering have sold out before it reached the public phase.

The community interest in our projects has been most gratifying but we honestly admit that it completely surprised us that an enormous 70 Bn Isk twin outpost project would sell out all shares in just 3 days, before it even got to the public phase.

**

(OOC) We always meant for our projects to be community driven, in the broadest sense of the word. We feel that, for what they are, our outpost projects make Eve a more interesting place to be, expands the virtual world, and breaks new ground for what can be achieved in community based gaming. For us, being able to influence the metaversa like this is fun.

Why Eve? To our best knowledge, Eve seems to be the only game on the MMO market that allows things like this to happen. Kudos to CCP.

**

We know that a large number of people outside the ISS have been looking forward to participating in our next project and we regret this one didn't reach the public phase.

We believed it would.


In order to meet the expectations of the community, we have decided to fast forward to the next outpost project:

The ISS Marginis outpost have been a commercial success. So much in fact, that all 4 factory slots in the Gallent Admin outpost usually have production queues of up to 5 days. This is obviously quite intolerable for the producers and industrialists among us.

Go check for yourselves Smile

The market is thriving in Marginis. But in order for it to become a truly selfsufficient local tradehub, we need more factory slots. Producing stuff onsite is much more efficient than relying on empire factories and unsafe spacelanes.

We therefore propose to build a factory outpost in one of the solar systems next to Marginis.

There is a twist to this:

If the twin outpost constellation is to work they need to be part of the same business unit, ie in order to not compete with each other, but to complement each other. We believe the synergy between the two will create more than twice the revenue for the shareholders than the current single outpost does and thus make it a better deal for existing shreholders.

But in order for the twin outposts to become a consolidated business unit, it has to be an extension of the existing Marginis Outpost corporation. To raise the necessary capital for the new outpost the Marginis corporation has to issue more shares. Issuing shares is not something the CEO of a company can do on his own initiative. It has to be approved by a majority of the existing shareholders. Therefore we have decided to put the proposition to vote among the shareholders.

The question we ask the shareholders is: 'Do you want the ISS to build a factory outpost next to Marginis, and do you accept that we issue xx additional shares to do so?'.

The results of the vote will be known in a week, next Sunday, March 19, 2006.

If the vote is 'Yes', we will begin to prepare the financial prospectus for the new IPO and probably launch the IPO within 2-3 weeks.


Serenity Steele
Caldari
Dynamic Data Distribution
Posted - 2006.03.11 20:54:00 - [2]
 

Edited by: Serenity Steele on 11/03/2006 21:01:55
There are approximately 50 transactions to process still for to deliver all the shares to the buyers, which will be completed within 24 hours. If you transferred isk before 11/03/2006 16:30 you can be confident of receiving shares, otherwise your money returned.

Regrettably some who missed out on the IPO were those in a list of people who'd expressed interest in the next IPO were lost due to a snafu with blocking and unblocking settings.







Lilan Kahn
Amarr
The Littlest Hobos
En Garde
Posted - 2006.03.11 20:57:00 - [3]
 

*sigh*

i didnt get to buy shares now i have to hurt littel kids that live there

Velsharoon
Gallente
Arcane Velshologies
Posted - 2006.03.11 20:58:00 - [4]
 

Go ISS :)


Kyguard
Caldari
Deep Core Mining Inc.
Posted - 2006.03.11 21:06:00 - [5]
 

ISS shares ftw! Smile

Fraps
Caldari
Setenta Corp
F A I L
Posted - 2006.03.11 21:51:00 - [6]
 

If the vote is aproved will existing share holders get a chance to purchase shares before everyone else? the reason I ask is i have shares and missed buying more because I logged in to late.

Professor McFly
Caldari
School of Applied Knowledge
Posted - 2006.03.11 21:59:00 - [7]
 

ISS continues to impress. I hope the future holds no disappointments Surprised

Goberth Ludwig
Caldari
Sniggerdly
Pandemic Legion
Posted - 2006.03.11 22:01:00 - [8]
 

wow! impressive o_O

ODd Anders1
Caldari
Doomheim
Posted - 2006.03.11 22:11:00 - [9]
 

You know the outpost wil be atacked? and fast? a trading hubb in 0.0 and no defence force? Rolling Eyes

Kahn Moquil
Minmatar
Doomheim
Posted - 2006.03.11 22:27:00 - [10]
 

Edited by: Kahn Moquil on 11/03/2006 22:27:33
Why don't you create a new holding corp for the second outpost? I can see how the synergy from 2 outposts would benefit current shareholders, but you're asking the current shareholders to take an awful lot of risk here.

The people who buy shares in a new project understand (or should understand) the risk involved in deploying an outpost. If it gets disrupted and the outpost gets destroyed before it even gets put up, they have lost their investment. Fair play.

What you're asking the current Marginis shareholders is to take that same risk again, in return for a possible increase in their share value and dividends. Both of wich will increase at more or less the same rate if you set up a new holding corporation.

In short, you're asking current shareholders to take a huge risk, while you could just as well eliminate that risk and still make their shares more valuable.

I'm sorry, but you'll have to come up with something better before you get my vote.

Cacia Source
Gallente
Doomheim
Posted - 2006.03.11 23:35:00 - [11]
 

congrats ISS.

ODd Anders1
Caldari
Doomheim
Posted - 2006.03.11 23:59:00 - [12]
 

As i see it now.
Iss got no navy
Iss got no defence
Iss cant figth
Iss only hire merc corpes YARRRR!!
Iss byes bpo`s on e bay

Fraps
Caldari
Setenta Corp
F A I L
Posted - 2006.03.12 00:38:00 - [13]
 

I think you should address your own problems first.
you can't spell, you have horrible grammar, you're an alt, you're a troll, and judging by the way you see things you have a strong need for new glasses.

ISS does have a navy, they have a strong defence in the way of a 5 moon system with all moons having large towers and plenty of stront. theres nothing wrong with using mercs, and who cares where they get their BPOs.



beyond at that , as a share holder I have enjoyed a healthy dividend each month as well as the doubling of the price of the current shares I own.

Kahn Moquil
Minmatar
Doomheim
Posted - 2006.03.12 01:05:00 - [14]
 

No need to start trolling in this thread, ISS have proven that they know what they're doing in regards to outposts, both by have the share value increase and by getting decent dividend on shares.

Originally by: Fraps
as a share holder I have enjoyed a healthy dividend each month as well as the doubling of the price of the current shares I own.


You do realise that if they double the number of Marginis shares and the deployment of the new outpost somehow ends in tragedy, both your shares and your dividend will be halved, right? Because there's no way of telling who owns what share, it'll mean that all of the old shares and the new shares have to share the dividend of one station.

Gray Carmicheal
Caldari
Immortalis Inc.
Shadow Cartel
Posted - 2006.03.12 01:13:00 - [15]
 

Man, our little alliance was gonna be started on 10 ISS shares. LOL


Hope you guys have a free-range IPO for the next Outpost or major project. That'd be nice, to be able to let new meat into the pot. But even if not, I understand why not.

Khristopher
Caldari
Legio I Mordu Cohort I
Posted - 2006.03.12 01:21:00 - [16]
 

Glad to see ISS's plans going forward better market place in 0.0 regions is a good thing for all. I just hope they refund the isk of those who sent in payment for shares right at 18:00 before the announcement that they were sold out. Ah well hopefully I will get a refund and can invest in ISS's next outpost.

Wee Dave
Caldari
Caldari Provisions
Posted - 2006.03.12 01:55:00 - [17]
 

Originally by: ODd Anders1
As i see it now.
Iss got no navy
Iss got no defence
Iss cant figth
Iss only hire merc corpes YARRRR!!
Iss byes bpo`s on e bay



Quote:
Iss byes bpo`s on e bay


Quote:
byes


This has to be a new low.

Grandeur
Gallente
Evolution
KenZoku
Posted - 2006.03.12 02:12:00 - [18]
 

Congrats, ISS! Very Happy

I was looking forward to investing my ISK for this particular venture, but seems I underestimated the rate that the shares were selling at. Hopefully will have more of a chance next time.


Ashis
Amarr
DarkStar 1
GoonSwarm
Posted - 2006.03.12 03:15:00 - [19]
 

The key point will be if existing IIS Marginis shareholders will have the first opportunity to purchase shares for the new sister station.

That is a key point of clarification nefore a vote I'd think.

Boonaki
Caldari
Focused Annihilation
Detrimental Imperative
Posted - 2006.03.12 08:59:00 - [20]
 

I'm thinking you need more diversity in the IPO's, having such a limited intrest in it is very bad for your health.

lazlow lang
Minmatar
BURN EDEN
Posted - 2006.03.12 10:54:00 - [21]
 

boonaki, i couldnt agree less.

take the KDF outpost. if the shares had been all bought by... say carebears in empire, that didnt know if 0.0 was purple with skull and cross bones instead of stars etc. so these carebears hold all 3600 shares. Lets say someone attacks the outpost. who is going to defend it? ISS+who ever they can hire, this would be VERY costly each and everytime a few pirates got together and tried it.

look at Borealis, if pirates attacked that with serious commitment to take it, they would get clucterBucked by about 5 alliances, since all the alliances up there probably have a pretty big hold between them. if the ISS loose the outpost, they loose thier ISK, so these ppl are motivated to help defend it. if members of an alliance who are 50+ jumps away hear their investment is under attack, its not likely they will help.

Therefore ISS need to satisfy the locals first to ensure they can get backup if a substantial threat was opened up.

Also it will be majority of the locals that use the outposts. why should ppl 50+ jumps again profit?

ISS consult past investors and locals first, because that is the way they ensure their survival

Athon NooB
Caldari
OMEGAwatt Development Studios
Final Retribution Alliance
Posted - 2006.03.12 11:15:00 - [22]
 

---Personal Opinion---

I think the only sane way to issue addition shares is to consolidate all ISS shares into one corporation, and expand the offering from there. Having 3, 4, 5 differnt share issues does limit liability, but increases confusion and needlessly hinders the progress of ISS as a whole under layers of administration.

Example, the latest IPO was oversubscribed--big surprise--solution, Marginis II. While on paper sound, Marginis has been such a success that round 2 will never be seen in the public round, b/c people like me (not to mention corps) that have the insider track will buy all available stock.

Hell, I plan on rolling it soon as I get it! Yes there is a market...

Consolidating operations, and issuing more stock is the way to address everyones issues. The formula of creating a new corp for each Outpost is not going to work if insiders have first chance at shares, b/c now that ISS shares have a real value, we will buy all we can lay our hands on, thanks :-)

Regards,
Athon

Greavus
Minmatar
Black Aces
Against ALL Authorities
Posted - 2006.03.12 11:15:00 - [23]
 

Very impressive Shocked

Looking forward to your future projects

Vishnej
Amarr
Demonic Retribution
Pure.
Posted - 2006.03.12 15:45:00 - [24]
 

Originally by: Lilan Kahn
*sigh*

i didnt get to buy shares now i have to hurt littel kids that live there


QFT.

You implicitly said that your protection plan depended on this being a group effort of the surrounding corporations. If you sell it out to yourselves, this makes you no different from a non-NBSI 0.0 claiming alliance.

On the seperate issue of stock issuances - The decision is between keeping this a limited investment over multiple small plans, or creating a true corporation with ownership diluted every time you need a major investment. That would also assist in the above safety issue as well.

I don't know which is better, TBH - but the unified stock does give investors more leeway if you lose a station (only 50% loss). Unless you want to dilute the shares more than necessary, though, I would auction them off rather than selling them as a portion of the outpost. When a corporation needs to buy something major, it posts a share offer at the current market price, not at the price they originally IPO'd at. If the old share value was significantly above the new public offering, then your old shareholders have a major grievance against you for diluting their stock more than necessary.

Serenity Steele
Caldari
Dynamic Data Distribution
Posted - 2006.03.12 16:29:00 - [25]
 

The current share price is definately what we're looking at as part of the consideration to extend an outpost corporation - In balance with the expected returns. In either case, the vote will be in the Shareholders position.

All shares in ISS Providence have now been issued, and oversubscribed isk (1bn) returned to investors. I'm happy to say that although it sold out faster than expected, we managed to catch it fast enough to not have to return 8bn isk like last time :)


Dark Shikari
Caldari
Deep Core Mining Inc.
Posted - 2006.03.12 16:40:00 - [26]
 

Originally by: Vishnej
Originally by: Lilan Kahn
*sigh*

i didnt get to buy shares now i have to hurt littel kids that live there


QFT.

You implicitly said that your protection plan depended on this being a group effort of the surrounding corporations. If you sell it out to yourselves, this makes you no different from a non-NBSI 0.0 claiming alliance.


They sold also to all current shareowners, many of which were in the nearby alliances.

Alvara
Caldari
Kuiper Belt Industries
Empire Research
Posted - 2006.03.12 17:29:00 - [27]
 

Originally by: Serenity Steele
Edited by: Serenity Steele on 11/03/2006 21:01:55
There are approximately 50 transactions to process still for to deliver all the shares to the buyers, which will be completed within 24 hours. If you transferred isk before 11/03/2006 16:30 you can be confident of receiving shares, otherwise your money returned.

Regrettably some who missed out on the IPO were those in a list of people who'd expressed interest in the next IPO were lost due to a snafu with blocking and unblocking settings.


Unfortunately I was one of those who was on that list of people that was lost. At this point I am quite disgusted. One, I was on that list. Two, I am part of an alliance in that area of space. Three, missing out for the third time in a row is pure crap.

I am glad you are doing these public outposts, but at this point I no longer plan to encourage ISS station use.

Xrak
Caldari
Pat Sharp's Potato Rodeo
Wildly Inappropriate.
Posted - 2006.03.12 21:34:00 - [28]
 

Ok now im ****ed off, twice I have been side lined and not given the chance to buy shares, despite having a vested interest in one area, and the promise of being first to be allowed to buy shares the second time.


T'namo Celai
Gallente
Doomheim
Posted - 2006.03.12 22:23:00 - [29]
 

Originally by: Xrak
Ok now im ****ed off, twice I have been side lined and not given the chance to buy shares, despite having a vested interest in one area, and the promise of being first to be allowed to buy shares the second time.



"Nice station, we'll take it?" ;)

Good job ISS. When i first heard of marginis i thought it wouldnt work, and get blobbed 24/7.
From what i've heard, it's really working atm. But, for a outpost to work, you *need* to have support from the locals. Else, you will end up with corps like Burn Eden on you, and no chance to get them away, for nobody is supporting you..

Mr Trouble
Caldari
Deep Core Mining Inc.
Posted - 2006.03.13 01:29:00 - [30]
 

Originally by: T'namo Celai


"Nice station, we'll take it?" ;)

Good job ISS. When i first heard of marginis i thought it wouldnt work, and get blobbed 24/7.
From what i've heard, it's really working atm. But, for a outpost to work, you *need* to have support from the locals. Else, you will end up with corps like Burn Eden on you, and no chance to get them away, for nobody is supporting you..



But... they do. The first phase of their shares is open to everyone in the neighbouring space. Last time I checked, BoB didnt have much of a presence near Providence so they were not offered in the first phase.

Only a portion of the shares went internally, the majority went to existing shareholders and the neighbouring alliances, but it was very much a first-come first-serve thing.

Also - ISS have stated they will fast forward their next project with a view to makes all the shares available to all of Eve from Phase I.

God knows they tried to be ambitious with this project, you can't blame them for being as successful as they have been. I'm sure they fully expected some of that 70bn ISK to some from outside the neighbouring alliances.


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