Teleport Communications Group Inc, Staten Island, New York-based gran’daddy of the Metropolitan Area Network business – it likes to call itself a competitive local exchange carrier to confuse the innocent – has filed with the Securities & Exchange Commission to offer an undisclosed number of its Class A common. Teleport now has digital fibre optic networks in 48 metropolitan markets, including 17 of the 20 largest US metropolitan areas; it currently has over 5,400 route miles serving about 4,660 buildings and is at present owned by Cox Communications Inc, Tele-Communications Inc, Comcast Corp. and Continental Cablevision Inc. Merrill Lynch & Co, Morgan Stanley & Co, Donaldson, Lufkin & Jenrette, Lehman Brothers Inc and Deutsche Morgan Grenfell will be the underwriters for the issue.
Unify Corp, San Jose relational database developer-turned database tools designer, must feel a little long in the tooth alongside all the six-week-old companies that seem to be going public these days, but it wants investors to know that age has its virtues, and the venerable company has filed to go public with an initial offer of 2.1m shares, 1.85m of them new, at a target price of between $10 and $12 per share. It wants the $17m or so net proceeds for working capital. Underwriters are Montgomery Securities, Needham & Co Inc and Black & Co.
