Marcam Corp, the Newton, Massachusetts manufacturing software specialist that bought IBM Corp’s Mapics, left IBM holding a big baby in the shape of 1.615m Marcam shares, which IBM now wants to sell. Marcam has, at IBM’s behest, filed a registration statement for the resale of the shares, but IBM says it may sell tbem in ordinary broker transactions, through purchases by a broker or dealer as principal and resale by such broker or dealer for its own account, or in one or more block trades. – o – Learmonth & Burchett Management Systems Plc has filed with the US Securities & Exchange Commission to offer up to 2.5m American Depositary Shares, each representing two ordinary shares. Proceeds will be used for working capital and possible acquisitions. The offering will be made through Lehman Brothers Inc, J P Morgan Securities Inc and Wessels, Arnold & Henderson Inc, Learmonth noted. – o – TeleWest Communications Plc, UK cable television and local telephony franchise holder, raised $1,200m in New York in a two-part junk-bond issue, increasing the deal from $800m due to positive market reception. The offering comprises $300m senior debentures due October 1 2006 with a 9.625% coupon, priced at par, and face value amount of $1,536m of zero-coupon notes priced at $58.578% to yield proceeds of $900m and an 11% yield to maturity. The notes are rated B1 by Moody’s Investors Service Inc and double-B by Standard & Poor’s Corp. The lead manager for the issue was Morgan Stanley.
