[FPSPACE] MirCorp casts a wider net

[Dwayne Allen Day]

October 13, 2000
Company to sell stock in Mir space station

MOSCOW (AP) -- The company that leased time for commercial use on Russia's
aging Mir space station said Thursday it intends to go to the stock market
for $117 million to refurbish the station and keep it flying. 
Netherlands-based MirCorp, which plans to send so-called "space
tourists" to Mir as a commercial venture, will do an initial public
offering in February 2001 amounting to 9 percent of the company, said
Dr. Chirinjeev Kathuria, one of MirCorp's major investors. 
The shares would be listed on the U.S. Nasdaq exchange, in London and in
Singapore, he said. 
The money will be used to make improvements in the current core module,
including new computers, software and solar panels, he said. 
The offering will also reassure Russian officials, who have said they will
have to dump Mir if money is not available to keep the 14-year-old station
flying, he said. 
"The Russian government wants to feel comfortable that there is capital
available to finance further operations," Kathuria told The Associated
Press. 

[clipped parts saying Mir is in good condition, Tito, etc.]

*************************************************

This clears up one of my earlier questions about whether or not MirCorp
was rushing to IPO.  The February date is earlier than their original plan
and there is no coincidence that it is the same month that the Russians
want to de-orbit the station.  Obviously they are using this IPO to tell
the Russians "keep it up until then and we will get you all of the money
you want."

I plan on buying myself a single share of stock, provided that I get a
nice stock certificate, suitable for framing, with it...



DDAY