Amid worldwide stock-market volatility, the date of Healtheon's initial public offering, one of the most anticipated of the year, appears to be slipping.
In mid-August, officials at lead underwriter Morgan Stanley Dean Witter said the IPO of the health-care software company would take place on or about the week of 21 September. In late August, the investment bank cited the week of 28 September.
On Thursday, an official on the syndicate desk -- the department that handles IPO queries -- pegged the offering to the week of 5 October. Morgan Stanley declined comment on the reasons for the date change. "We're prohibited from talking about that," said spokeswoman Leigh Pierce.
Healtheon also declined comment.
Wall Street is watching developments of this IPO closely. Healtheon was founded by Jim Clark, who also cofounded Silicon Graphics (SGI) and Netscape Communications (NSCP).
Healtheon, based in Santa Clara, California, develops software that helps big health-care providers track their patients' records electronically using Internet technologies.
Several companies have shelved their IPO plans for the coming months because of falling stock prices and rising risk aversion. Earlier this week, Heidrick & Struggles, the second-biggest US executive-search firm, postponed its IPO plans.
