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IPO calendar cools off after hot week

Investors will find many leftovers on next week's menu of initial public offerings, as five of 16 scheduled IPOs are holdovers.

    Investors will find many leftovers on next week's menu of initial public offerings, as five of 16 scheduled IPOs are holdovers.

    "We're looking at a lot of product that's been hanging around," said Kathleen Smith, portfolio manager with the Renaissance Capital IPO Plus Aftermarket Fund.

    Smith does not expect strong debuts from these companies because investors can "get nervous when they see the deals getting delayed like that."

    The 16 companies are expected to raise just over $1 billion next week. This is a relatively light calendar compared with the 30 completed offerings this week, which raised $7.2 billion, and the 28 the week before, which raised $2.8 billion.

    Discount computer seller PeoplePC is one of the five companies that will once again attempt to sell its shares after postponing its offering Wednesday.

    Other companies returning for a second try this week include SynQuest, Ista Pharmaticeuticas, ServiceWare and Infinite Technologies.

    PeoplePC intends to raise up to $161 million through the sale of 11.5 million shares at a range of $12 to $14. It will trade on the Nasdaq under the ticker symbol "PEOP," and Chase Hambrecht & Quist will handle the sale.

    Some analysts have questioned investor enthusiasm for PeoplePC's offering, considering that its business model is essentially to give away computers to enroll people in its Internet service.

     IPOs on tap
    PeoplePC
    Ticker: PEOP
    Business: PC hardware, Net access
    Web site: www.peoplepc.com
    Lead underwriter:
      Chase Hambrecht & Quist
    Pricing range: $12-$14
    Recent PeoplePC news

    Dyax
    Ticker: DYAX
    Business: Biopharmaceutical products
    Web site: www.dyax.com
    Lead underwriter:
      J.P. Morgan
    Pricing range: $13-$15
    Recent IPO news

    o2wireless
    Ticker: OTWO
    Business: Wireless, broadband
    Web site: www. o2wireless.com
    Lead underwriter:
      Chase H&Q
    Pricing range: $12-$14
    Recent wireless news

    For more IPO information, see CNET Investor
    *price information may change
    From its founding March 2, 1999, through Dec. 31, PeoplePC lost $66 million on revenue of $3.4 million. The company lost another $107 million during the first six months of this year on revenue of $18 million.

    "They're basically eating all the losses initially with the hopes getting market share," said Paul Bard, an analyst at Renaissance Capital. "Maybe they would be able to sell that to the market a year ago, but not now. Those aren't the most attractive business models right now."

    Analysts are more bullish about the prospects of Dyax, a company that develops pharmaceutical and biotechnology products based on its proprietary technology.

    Although the company has not been profitable yet--it lost $8.7 million in the six months ended June 30 on revenues of $10.2 million--investors say the company has good prospects because of its partnerships and management team.

    Dyax's founder, Henry Blair, also founded Genzyme, a profitable biotech company. In addition, Dyax has forged partnerships with such respectable firms as Amgen and Human Genome.

    Dyax plans to raise $60 million through the sale of 4 million shares at a range of $13 to $15. The company will trade on the Nasdaq under the ticker symbol "DYAX." J.P. Morgan will be the lead underwriter.

    o2wireless Solutions is another IPO that is garnering some attention. The company designs and installs cellular phones and broadband and wireless networks. Its clients include Sprint PCS, Teligent and Nortel Networks.

    o2wireless plans to raise $85.4 million through the sale of 6.1 million shares at a range of $12 to $14. The company will trade on the Nasdaq under the ticker symbol "OTWO." Chase H&Q will handle the sale.

    Following are some Tune in to CNET News.com TV's IPO
Forecastof the other companies planning IPOs next week. For a complete listing, visit CNET Investor.

    • Lexar Media, which makes digital film, or storage devices, and other products for digital cameras, plans to raise $78 million through the sale of 6.5 million shares at a range of $10 to $12. The company will trade on the Nasdaq under the ticker symbol "LEXR." Chase H&Q will manage the sale.

    • Viasource Communications, which provides installation and support for broadband service providers, plans to raise $165 million through the sale of 11 million shares at a range of $13 to $15. The company will trade on the Nasdaq under the ticker symbol "VVVV." Donaldson Lufkin & Jenrette will handle the sale.

    • Peco II, which makes power systems to protect telecommunications infrastructure from voltage damage, plans to raise $80 million through the sale of 5 million shares at a range of $14 to $16. The company will trade on the Nasdaq under the ticker symbol "PIII." Robertson Stephens will co-manage the sale with CIBC World Markets and Thomas Weisel.

    • Itex, which operates a retail trade exchange similar to eBay for corporate customers, plans to raise $106.4 million through the sale of 5.6 million shares at a range of $17 to $19. The company will trade on the Nasdaq under the ticker symbol "ITXI." Lehman Brothers will manage the sale.

    • Avistar Communications, which makes video conferencing and broadcasting services for corporate customers, plans to raise $54 million through the sale of 3.6 million shares at $13 to $15. The company will trade on the Nasdaq under the ticker symbol "AVSR." Chase H&Q will manage the sale.

    • Changepoint, which makes Web-based software that allows companies to manage their technology resources, plans to raise $50 million through the sale of 5 million shares at a range of $8 to $10. The company will trade on the Nasdaq under the ticker symbol "CPNT." Donaldson Lufkin will handle the sale.