Finance History|11 Wall Street — Thirty Dollars for Seventy-Two Million Shares Called A
· 1999-11
Personal memoryBy kevin · · Report an issue
Find memories left by people near you.
Distribute Bounty
This will distribute the bounty equally among all qualifying memories. This action cannot be undone.
Cancel Bounty
Are you sure you want to cancel this bounty? The remaining amount will be refunded to your account.
Success!
Operation completed successfully.
Error
Something went wrong.
Finance History|11 Wall Street — Thirty Dollars for Seventy-Two Million Shares Called A
kevin
People treat Agilent as a Santa Clara life-science instruments shop.
The first public print was a dividend paid back to Hewlett-Packard.
Hewlett-Packard separated its test-and-measurement, semiconductor and optical businesses in 1999 and named the new company Agilent Technologies. Ned Barnholt was president and chief executive.
On 18 November 1999 the firm priced 72 million common shares at 30 dollars each. The offering raised about 2.1 billion dollars in 1999 currency, then the largest initial public offering in Silicon Valley.
Net proceeds were paid to Hewlett-Packard as a dividend. After the sale HP still held about 84 percent of Agilent. It later distributed the remainder to HP holders.
The shares listed on the New York Stock Exchange that day under the single letter A. EE Times recorded an opening move from 30 dollars toward 50 before a midday trade near 41.50. The Los Angeles Times, citing Bloomberg, recorded a first-day close of 44 dollars, up 14 dollars, on about 44.7 million shares.
Morgan Stanley Dean Witter led. Goldman, Sachs co-led.
The businesses inside Agilent had booked nearly 8 billion dollars of net revenue in fiscal 1998. The listed company was the measurement book, not the printer-and-PC book that stayed at HP.
Agilent's own history page sets the 2.1 billion dollars against the 538 dollars of working capital Hewlett and Packard started with in the Addison Avenue garage in 1938.
The mechanism is a parent extracting cash from a measurement subsidiary by selling a minority slice, then finishing the split by distributing the rest. The ticker A is the leftover letter after HP kept the old name.
The pin is the public Broad Street viewpoint at 11 Wall Street. Agilent's later Santa Clara and Santa Rosa floors are working labs, not a visitor gallery.
Photo: New York Stock Exchange, Broad Street facade, via the collection photograph already ingested for 11 Wall Street listings.
changes?
delete this memory?
We detected that you have a Blox in your crypto wallet! We will import the Blox into your account.
Click on done below to complete the import.
Welcome Back!
Sign in to preserve cherished moments
Don't have an account?
Welcome!!
Sign up and start preserving cherished moments
?
?
Choose your payment method
Buy with Metablox Credit
Do you want to mint Blox with Metablox Credit?
Which Crypto would you like to use?
Purchase Confirmed!
Your Blox is being minted on-chain and will appear in your profile shortly.
Log in or sign up to claim your Blox.
How many credits do you want to buy?
$100 USD = 1 Metablox Credit = 1 Blox.
Use Metablox Credit to mint any Blox you want on the map.
expand_more