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DEUTSCHE BANK UNVEILS PLANS TO OFFER IPOs OVER THE NET.

Frankfurt-based German financial institution Deutsche Bank yesterday unveiled plans to offer private investors shares in initial public offerings via a dedicated web site, to be launched in March. Though this is not the first such initiative, it is the first by a major bank, and as such represents an important step towards electronic share trading. Deutsche Bank plans to include on the web site all the necessary information on past, present and future IPOs it is handling, including company profiles. The site will be accessible by all customers of Deutsche Bank and its electronic banking subsidiary, Bank24, who have an online custody account. For companies planning to go public, the service should hold considerable enticement to take their business to Deutsche Bank, as it will enable them to access its 575,000 online customers. Due to regulations, US investors will not be allowed to use the service.
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Publication:Computergram International
Geographic Code:4EUGE
Date:Jan 26, 1999
Words:147
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