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iVillage IPO Delayed To Friday

One high-profile Internet company has to wait at least another day before making its debut on Wall Street, while several others took significant steps toward their own looming stock offerings.

New York-based iVillage, which was to price its initial public offering Tuesday night, is now expected to begin trading on Friday, according to Goldman Sachs spokesman Adam Weiner.

The company is waiting for final clearance from the Securities & Exchange Commission, which has to declare a stock offering effective before it can be priced. Weiner would not comment further on the hold-up.

Other high-profile Internet companies were moving forward with their own IPO plans., the online book retailer that is jointly owned by Barnes & Noble (BKS) and Bertelsmann, has revived its long-dormant IPO registration statement.

In an amended filing with the SEC, said it hopes to trade on the Nasdaq under the ticker "BNBN." The company originally filed for an IPO last September, but temporarily delayed its plans when it decided to receive a $100 million investment from Bertelsmann, a giant German distributor.

Among the more notable changes: The company now hopes to raise $200 million in the offering vs. a $100 million estimate in the original filing; the proposed ticker symbol is no longer "BOOK"; and Merrill Lynch replaces Salomon Smith Barney as co-lead manager of the IPO with Goldman Sachs.

Barnes & Noble and Bertelsmann said they plan to sell about 10 to 20 percent of the company.

In addition, finally set estimated terms of its upcoming offering. The company, which also restated its financial results for 1998, expects to sell 10 million shares at $7 to $9 each. With more than 142 million shares outstanding, will have a market cap of more than $1.1 billion at the midpoint of the expected range.

Morgan Stanley Dean Witter is underwriting the IPO, which is expected to price in late March.

Finally, online investment bank Wit Capital has filed for an IPO, as it indicated last week. The New York company, which has made its name by offering shares of IPO hopefuls to its Internet customers, estimated it could raise as much as $80 million. Wit Capital will act as "e-manager" for its own deal, while Bear Stearns handles the pricing of the IPO and traditional distribution.

By Darren Chervitz