Reuters Subsidiary Instinet Updates IPO Filing

Apr 03, 2001, 01:00 ET from Reuters

    LONDON, April 3 /PRNewswire/ -- Reuters, the global information, news and
 technology group, announced today that Instinet, its wholly owned electronic
 brokerage subsidiary, has filed an amendment to the S-1 Registration Statement
 for a proposed initial public offering (IPO) with the US Securities and
 Exchange Commission (SEC). This follows comments from the SEC on the initial
 filing and is part of the normal process towards an IPO.
     The amended S-1 Registration Statement gives an indicative price range for
 the IPO of US$11.00 - US$14.00 per share for an anticipated maximum of
 33,925,000 shares (including 4,425,000 shares that the underwriters have an
 option to purchase to cover over-allotments), which would constitute
 approximately 14.1% of Instinet's capital stock outstanding post-IPO.
 Instinet filed the initial S-1 Registration Statement with the SEC on
 8 February this year.
     Instinet is the world's largest electronic agency securities broker,
 trading in 40 securities markets, with membership of 20 exchanges throughout
 North America, Europe, and Asia.  It is headquartered in New York and has
 eight other global offices.  Founded in 1969, Instinet was acquired by Reuters
 in 1987 and has grown substantially under Reuters ownership in both US and
 international securities markets.
     Peter Job, Reuters Chief Executive, said:  "This amendment to the S-1
 Registration Statement takes us one step closer to the IPO for Instinet, which
 we still expect to take place in the first half of this year."
     A registration statement relating to these securities has been filed with
 the Securities and Exchange Commission but has not yet become effective.
 These securities may not be sold nor may offers to buy be accepted prior to
 the time the registration statement becomes effective.  This press release
 shall not constitute an offer to sell or the solicitation of an offer to buy
 nor shall there be any sale of these securities in any State in which offer,
 solicitation or sale would be unlawful prior to registration or qualification
 under the securities laws of such State.
     The amended S-1 Registration Statement is available to the public on the
 SEC's internet site (http://www.sec.gov).
 
     Note to editors:
     Reuters (about.reuters.com) premier position as a global information, news
 and technology group is founded on its reputation for speed, accuracy,
 integrity and impartiality combined with continuous technological innovation.
 Reuters strength is based on its unique ability to offer customers around the
 world a combination of content, technology and connectivity.  Reuters makes
 extensive use of internet technologies for the widest distribution of
 information and news.  Around 73 million unique visitors per month access
 Reuters content on some 1,400 Internet websites.  Reuters is the world's
 largest international text and television news agency with 2,157 journalists,
 photographers and camera operators in 190 bureaux, serving 151 countries.  In
 2000 the Group had revenues of 3.59 billion pounds sterling and on 31 December
 2000, the Group employed 18,082 staff in 204 cities in 100 countries.
 
     This news release may be deemed to include forward-looking statements
 relating to Reuters within the meaning of Section 27A of the US Securities Act
 of 1933 and Section 21E of the US Securities Exchange Act of 1934.  Certain
 important factors that could cause actual results to differ materially from
 those disclosed in such forward-looking statements are described in Reuters
 Annual Report and Form 20-F for the year ended 31 December 2000 under the
 heading 'Risk Factors'.  Copies of the Annual Report and Form 20-F are
 available on request from Reuters Group PLC, 85 Fleet Street, London EC4P 4AJ.
 
     Reuters and the sphere logo are the trademarks of the Reuters group of
 companies.
 
 

SOURCE Reuters
    LONDON, April 3 /PRNewswire/ -- Reuters, the global information, news and
 technology group, announced today that Instinet, its wholly owned electronic
 brokerage subsidiary, has filed an amendment to the S-1 Registration Statement
 for a proposed initial public offering (IPO) with the US Securities and
 Exchange Commission (SEC). This follows comments from the SEC on the initial
 filing and is part of the normal process towards an IPO.
     The amended S-1 Registration Statement gives an indicative price range for
 the IPO of US$11.00 - US$14.00 per share for an anticipated maximum of
 33,925,000 shares (including 4,425,000 shares that the underwriters have an
 option to purchase to cover over-allotments), which would constitute
 approximately 14.1% of Instinet's capital stock outstanding post-IPO.
 Instinet filed the initial S-1 Registration Statement with the SEC on
 8 February this year.
     Instinet is the world's largest electronic agency securities broker,
 trading in 40 securities markets, with membership of 20 exchanges throughout
 North America, Europe, and Asia.  It is headquartered in New York and has
 eight other global offices.  Founded in 1969, Instinet was acquired by Reuters
 in 1987 and has grown substantially under Reuters ownership in both US and
 international securities markets.
     Peter Job, Reuters Chief Executive, said:  "This amendment to the S-1
 Registration Statement takes us one step closer to the IPO for Instinet, which
 we still expect to take place in the first half of this year."
     A registration statement relating to these securities has been filed with
 the Securities and Exchange Commission but has not yet become effective.
 These securities may not be sold nor may offers to buy be accepted prior to
 the time the registration statement becomes effective.  This press release
 shall not constitute an offer to sell or the solicitation of an offer to buy
 nor shall there be any sale of these securities in any State in which offer,
 solicitation or sale would be unlawful prior to registration or qualification
 under the securities laws of such State.
     The amended S-1 Registration Statement is available to the public on the
 SEC's internet site (http://www.sec.gov).
 
     Note to editors:
     Reuters (about.reuters.com) premier position as a global information, news
 and technology group is founded on its reputation for speed, accuracy,
 integrity and impartiality combined with continuous technological innovation.
 Reuters strength is based on its unique ability to offer customers around the
 world a combination of content, technology and connectivity.  Reuters makes
 extensive use of internet technologies for the widest distribution of
 information and news.  Around 73 million unique visitors per month access
 Reuters content on some 1,400 Internet websites.  Reuters is the world's
 largest international text and television news agency with 2,157 journalists,
 photographers and camera operators in 190 bureaux, serving 151 countries.  In
 2000 the Group had revenues of 3.59 billion pounds sterling and on 31 December
 2000, the Group employed 18,082 staff in 204 cities in 100 countries.
 
     This news release may be deemed to include forward-looking statements
 relating to Reuters within the meaning of Section 27A of the US Securities Act
 of 1933 and Section 21E of the US Securities Exchange Act of 1934.  Certain
 important factors that could cause actual results to differ materially from
 those disclosed in such forward-looking statements are described in Reuters
 Annual Report and Form 20-F for the year ended 31 December 2000 under the
 heading 'Risk Factors'.  Copies of the Annual Report and Form 20-F are
 available on request from Reuters Group PLC, 85 Fleet Street, London EC4P 4AJ.
 
     Reuters and the sphere logo are the trademarks of the Reuters group of
 companies.
 
 SOURCE  Reuters