The first Australian prospectus to be delivered onto the Internet World Wide Web in HTML format (standard for the World Wide Web) has been an overwhelming success with potential investors, according to Beam International Limited.
Beam  Chairman Mr Alfred Milgrom said that the prospectus site was recording up to one "hit" every five minutes, and that over 300 copies of the prospectus have been downloaded since the offer announcement.
The $3 million float of Beam International - Australia's largest multimedia company - has been met with great enthusiasm from Australian investors with the oFfer likely to close soon. The float values Beam International Limited at $20 million, with six million shares being offered at 50 cents each.
Not underwritten at the time of announcement, the offer has also gained the full support of all brokers involved with the float. The brokers are EPIC Securities, Johnson Taylor, Austock, Peake Lands Kirwan, Roach McIntosh and ANZ Securities.
Beam International released its prospectus for an initial public offereing in three versions: a traditional printed paper prospectus, CD-ROM version and an on-line version available on the Internet World Wide Web.
"This is an exciting first for an Australian company, particularly for one so deeply involved in the development of the Internet and Internet tools," said Mr Milgrom.
"With an on-line version, any computer user with a modem connection to the Internet could easily access the Beam prospectus. Users could read all of the information, then print out the application form," he said.
"Our web site at http://www.beam.com.au also contains information about the company, such as a list of titles we have published, graphics from our games and profiles on our key staff. As well as Australian Internet users we have had people from around the world looking at our prospectus," Mr Milgrom said.
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Beam International Limited is the holding company for the Beam Group, the leading Australian developer of software products for entertainment and 'edutainment' markets arond the world.
The Group has been actively involved in the international multimedia market since 1980. It is the developer of best-selling multimedia games and has distribution and licensing contracts with publishers such as Microsoft corp., Sega of America and Electronic Arts, Inc.
The Beam Group reported revenues of $5.2 million for the 1995 financial year, 90 per cent of which were derived from export earnings. The forecast contained in the Prospectus, dated 13 August 1996, projects revenue growth to $12 million in the 1997 financial year.
Mr. Milgrom said that the proceeds of the float would be used to suport expansion of production and publishing of multimedia games for the world market.
"Being able to distribute material on the Internet or on CD-ROM to the investment community is a unique opportunity to showcase the interactive features and technology that sets Beam apart from other multimedia companies around the world."
"Our Cinema Technology - VideoBeamTM - for example is world-leading proprietary technology which allows TV-quality video footage to be displayed on an ordinary computer in full-screen without the need of additional hardware."
"The CD-ROM version of the prospectus has a superb example of VideoBeam for investors to experience," Mr Milgrom said.
This media release is produced by Beam International Ltd, the issuer of the prospectus dated 13 August and lodged with the Australian Securities Commision on 2 August 1996.
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