November 8, 1999
NetJewels.com Files for IPO
One of the many emerging e-commerce Web sites for retail jewelry filed its initial public offering late last week.
NetJewels.com, the Internet retail and wholesale jewelry arm of supplier D.G. Jewelry, Toronto, Ontario, is offering 2.2 million shares of common stock, about 40% of its total outstanding shares, according to Business Wire. The shares are being offered at initial prices of $10 to $12 per share.
NetJewels.com sells discounted jewelry items to retail customers; its parent company, D.G. Jewelry, is a major supplier to retail chains and shopping networks. Several new companies have launched retail jewelry Web sites in the past year. Many intend to become publicly traded companies, according to market watchers.
- by Stacey King