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INITIAL PUBLIC OFFERING

Despite rumours to the contrary, Zond Systems Inc has not withdrawn its Initial Public Offering, said Zond's Ken Karas in mid-December. The Tehachapi-based company filed registration papers to go public with the Securities and Exchange Commission in late July for an offering of some $50 million. It would be the third wind company to go public. But the stock market has recently seemed jittery, with higher-risk stocks faring less well. Several years ago, Zond was planning to go public but did withdraw the offering when the market looked less favourable. Both Kenetech Corp and New World Corp stock hit new lows in mid December.

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