The stock of business-to-business holding company Internet Capital Group (Nasdaq: ICGE) climbed 4-1/4 to 112-3/8 after the company announced that Ford is exploring alliances with the company and will invest $50 million. Ford will pay $108 per share, the same price paid by participants in Internet Capital Group’s secondary offering of six million shares on Wednesday.
The additional shares in the float could slow down the climb of Internet Capital stock, but potential alliances with Ford could be a big deal for Internet Capital and its network of business-to-business sites. One big beneficiary could be VerticalNet (Nasdaq: VERT), which offers online marketplaces for various industries. Shares of VerticalNet climbed 4-1/16 to 120 on Thursday.