. 24/7 Space News .
OrbComm Valuation Stymies IPO
Herndon Va. - July 2, 1998 - OrbComm Corporation today announced that it has elected to postpone its proposed initial public offering. Given the current weak state of the new issues public market, the OrbComm partners, Orbital Communications Corporation (OCC), a subsidiary of Orbital Sciences Corporation, and Teleglobe Mobile Partners (Teleglobe Mobile), a partnership consisting of Teleglobe Inc. and Technology Resources Industries Bhd., decided that the available valuation placed on OrbComm shares was below the true worth of the OrbComm business. OCC and Teleglobe Mobile have reaffirmed their commitment to continue to aggressively develop the OrbComm satellite-based global data and messaging business. The company will continue to evaluate market conditions and may decide to offer its shares again in the future.

OrbComm is a partnership owned by Orbital Sciences Corporation, Teleglobe Inc. of Canada and Technology Resources Industries Bhd. of Malaysia. Orbital is a space technology company that designs, manufactures and markets a broad range of space products and satellite-based services. Teleglobe Inc. is recognized as a world leader in the intercontinental telecommunications industry. The Teleglobe network includes submarine cables and satellite facilities linking North America with over 240 countries and territories. Technology Resources Industries Bhd., a publicly traded holding company, controls the largest cellular operator in Malaysia.

  • OrbComm


    Thanks for being here;
     We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

    With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

    Our news coverage takes time and effort to publish 365 days a year.

    If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
    SpaceDaily Contributor
    $5 Billed Once

    credit card or paypal
         		SpaceDaily Monthly Supporter
    $5 Billed Monthly

    paypal only














    • The content herein, unless otherwise known to be public domain, are Copyright 1995-2016 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement All images and articles appearing on Space Media Network have been edited or digitally altered in some way. Any requests to remove copyright material will be acted upon in a timely and appropriate manner. Any attempt to extort money from Space Media Network will be ignored and reported to Australian Law Enforcement Agencies as a potential case of financial fraud involving the use of a telephonic carriage device or postal service.