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Non-Tech
CSFB Direct(DIR)
An SI Board Since May 1999
Posts SubjectMarks Bans Symbol
406 10 0 DIR
Emcee:  Mohan Marette Type:  Unmoderated
DLJ Files to Sell 15 Mln DLJ Direct Shares at $13 to $15 Each
(Courtesy:Bloomberg)

Washington, May 6 (Bloomberg) -- Donaldson Lufkin & Jenrette Inc. will seek to sell 15 million shares that track performance of its online brokerage business, DLJ Direct, for $13 to $15 apiece.

DLJ would keep 85 million shares after the offering, giving investors a 15 percent stake in the New York-based online brokerage. If shares sell for $14 each, at the middle of the estimated range, DLJ would raise about $193.5 million after expenses from the sale. At that price, with 100 million shares outstanding, the brokerage unit would have an implied value of about $1.4 billion.

DLJ aims to raise money for DLJ Direct while investors are enthusiastic buyers of shares of online brokers. The tracking shares will reflect the performance of DLJ Direct separately from its parent. They carry no voting rights or claims on corporate assets.

DLJ first filed to sell the tracking shares in March. In an amended filing with the U.S. Securities and Exchange Commission today, the company disclosed the number of shares it plans to sell and the price it hopes to get for them.

DLJ Direct will get the proceeds from the sale of 10 million shares, and will use the money to repay a note issued to an affiliate before the offering, and to support its $65 million advertising budget for 1999, among other general corporate purposes. Parent DLJ will receive proceeds from the sale of the remaining 5 million shares, the filing said.

An underwriting group led by DLJ and DLJ Direct will market shares to the public. DLJ has applied to trade on the New York Stock Exchange under the symbol ''DIR.''
-- Siobhan Hughes
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406Maywood--the mm fund is great--Alliance Capital Management--not on web site, butE.J. Neitz Jr-5/17/2001
405Thanks for the response. I have the 100K minimum. If they based the IPO allocaMaywood-5/17/2001
404First, you need $100,000 min in account. Second, the allocation is then made on E.J. Neitz Jr-5/16/2001
403Does anyone here have an account with csfbdirect and try to get IPOs? If so, hoMaywood-5/13/2001
402hopefully those of you who have a DIR account will let them know - while they ardomtess-4/26/2001
401In this whole ugly mess, what I don't understand is: 1) Let's say that DMark Rosneck-4/2/2001
400O U C H !!!!!! My thinking is they will at least make the offer in the 9-10 rangPAFOOFNICK-3/29/2001
399The least they could do is throw in a jar of vaseline after they bend everyone oEman03-3/29/2001
398My broker said this is not set in stone, (the $4) More info should be forthcominPAFOOFNICK-3/28/2001
397Exclude this tracking stock from the DLJ acquisition when it was priced $11 by tdomtess-3/28/2001
396Strange Valuation in ONLINE Brokerage. wrt to CSFBdirect it sounds like CSFB is Joan Winston-3/26/2001
395Any DIR stockholders and account holders who want to continue to do business witBWAC-3/26/2001
394JERSEY CITY, N.J.--(BUSINESS WIRE)--Sept. 25, 2000-- -- Self-DirRob C.-9/25/2000
393=DJ POINT OF VIEW: Is Renaming DLJdirect Counterproductive? 31 Aug 13:49 ByRob C.-8/31/2000
392Henry, I like this... Credit Suisse First Boston could benefit from the deal iRob C.-8/30/2000
391DIR will continue as tracking stock. CNBC update netcog.comHenry Niman-8/30/2000
390We are not included in the deal. 30 Aug 08:35 Shareholders of Donaldson LufkRob C.-8/30/2000
389CNBC broke story at about 5:40 netcog.com Faber says $90 buyout a done deal netHenry Niman-8/29/2000
388Im glad you got out at thirty, I sold some and am in for a free ride, but the rPAFOOFNICK-8/29/2000
387DLJ to be bought out? Buying Strength: DLJ a Tempting Target By Dan Colarusso solstice-8/29/2000
386Wow, nice move. Could continue tomorrow it looks like. Missed it totally as I doSusan G-8/29/2000
385hellow: how strong is the news.PAFOOFNICK-8/29/2000
384 OK, some good news to report now...DLJDirect personally called all "frequeSusan G-5/3/2000
383 HORRENDOUS. That's all I can say about the DLJDirect website this week. <Susan G-5/3/2000
382 Edward, Aside from the glitches that DLJ was having back in March, I have been Techplayer-4/23/2000
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