 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
OrbComm Valuation Stymies IPO
Herndon Va. - July 2, 1998 - OrbComm Corporation today announced that it has elected to postpone its proposed initial public offering. Given the current weak state of the new issues public market, the OrbComm partners, Orbital Communications Corporation (OCC), a subsidiary of Orbital Sciences Corporation, and Teleglobe Mobile Partners (Teleglobe Mobile), a partnership consisting of Teleglobe Inc. and Technology Resources Industries Bhd., decided that the available valuation placed on OrbComm shares was below the true worth of the OrbComm business. OCC and Teleglobe Mobile have reaffirmed their commitment to continue to aggressively develop the OrbComm satellite-based global data and messaging business. The company will continue to evaluate market conditions and may decide to offer its shares again in the future. OrbComm is a partnership owned by Orbital Sciences Corporation, Teleglobe Inc. of Canada and Technology Resources Industries Bhd. of Malaysia. Orbital is a space technology company that designs, manufactures and markets a broad range of space products and satellite-based services. Teleglobe Inc. is recognized as a world leader in the intercontinental telecommunications industry. The Teleglobe network includes submarine cables and satellite facilities linking North America with over 240 countries and territories. Technology Resources Industries Bhd., a publicly traded holding company, controls the largest cellular operator in Malaysia.
Email This Article Comment On This Article Related Links Space
Satellite Launch To Boost DTH In India
Calcutta, India (SPX) Dec 28, 2005The successful launch Thursday of India's heaviest satellite from spaceport of Kourou in French Guyana may have boosted the country's space research efforts to yet another level, but it has also lifted the spirits of at least three Direct-To-Home televisions broadcasters, one of which has been waiting for years to launch its services in India. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| The content herein, unless otherwise known to be public domain, are Copyright 1995-2006 - SpaceDaily.AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA PortalReports are copyright European Space Agency. All NASA sourced material is public domain. Additionalcopyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by SpaceDaily on any Web page published or hosted by SpaceDaily. Privacy Statement |
