Capital Alliance's SEG signs sponsorship agreement
Capital Alliance Group Inc
CPT
Shares issued 4,942,406
2000-03-10 close $3.3
Monday Mar 13 2000
Mr. Toby Chu reports
Capital Alliance Group Inc. has made significant progress towards its goal of
becoming the premier financial Internet portal for stock exchanges around the
world. Further to the news release in Stockwatch dated Feb. 28, 2000, Capital
Alliance reports that its 100-per-cent owned subsidiary, SE Global Equities
Company Limited (SEG) has executed the sponsorship agreement with two
leading brokerage firms from Asia.
Capital Alliance is seeking Canadian Venture Exchange approval to undertake
two levels of equity financing raising $50-million (U.S.) for SEG. Capital Alliance
will distribute 22 per cent of its ownership in SEG for $10-million (U.S.) at the
first level as pre-IPO financing, and $40-million (U.S.) at the second level as IPO
placement. Following the IPO, Capital Alliance will maintain a majority equity
interest. All proceeds will be used for the development of SEG's Internet portal,
(www.StockExchangeGlobal.com) future acquisition purposes. The Web site's
anticipated launch date is April, 2000.
SEG was established to develop and market an Internet portal which would allow
investors to trade on-line at discounted rates in over 40 stock exchanges around
the world and eventually other stock futures, options exchanges as well as
currencies and bond markets. The sponsorship agreement appoints ICEA Capital
Limited and Tai Fook Capital Limited, both from Hong Kong, as SEG's sponsors
for its Hong Kong IPO. ICEA has been appointed as the global coordinator,
sponsor and lead manager, and Tai Fook will serve as the joint-lead sponsor and
joint-lead manager.
The sponsorship agreement outlines the following services to be provided by
ICEA & Tai Fook:
To underwrite SEG's IPO offering and to procure investors for the new shares
issued;
To advise SEG on its reorganization and internal corporate structure;
To coordinate with other professional parties in preparing the prospectus and
other related documentations as required by the Usting Rules of Hong Kong
Stock Exchange's GEM market;
To liaison and facilitate with local authorities and professionals in obtaining the
requisite clearance for public listing;
To liaise with public relation firms in packaging and marketing the company; and
To continue to act as SEG's sponsor for the first two financial years under the
HKSE listing rules.
Since 1998, ICEA has participated in over 60 projects, 20 merger and
acquisitions, 30 1POs, and raised over $9-billion (U.S.). ICEA is established
through a joint venture between Industrial Commercial Bank of China (ICBC) and
Bank of East Asia. ICBC has 36,000 branches and was ranked the third largest
bank in the world with assets of $498-billion (U.S.) in 1998. Bank of East Asia
was established in 1918 and was ranked by "The Banker" as the top bank in
Hong Kong in terms of capital, assets, and profitability.
Tai Fook is one of the top securities brokerage firms in Hong Kong, backed by
principal shareholders of New World Development Company Limited. Tai Fook
Group generated revenue of $44.6-million (U.S.) in 1999, with assets of
$253-million (U.S.). Tai Fook has branch offices in Hong Kong, Beijing, New
York and London.
In addition to the sponsorship arrangement viith ICEA and Tai Fook, SEG
received confirmation from Taiwan Securities and Sincere Securities to serve as
SEG's co-manager and underwriter in the forthcoming Hong Kong IPO.
Taiwan Securities Co. is one of the top five largest securities brokerage firm in
Taiwan with branches throughout the region. The Shing Kong Group and the
Prince Group together with Nomura securities, Dai-ichi Life, Sanyo Securities and
S.G, Warburg Securities founded Taiwan Securities in October 1988 with paid-in
capital of $211-billion (U.S.)
Sincere Securities Limited is a Hong Kong based firm with branches throughout
Hong Kong.
These two firms will work under the guidance of the lead sponsor, ICEA and the
co-lead sponsor, Tai Fook.
Capital Alliance also appointed Herbert Smith as legal counsel, and Arthur
Andersen Chartered Accountants as auditor for SEG. Herbert Smith is a premier
international law firm with offices in London, Bangkok, Beijing, Brussels, Hong
Kong, MOSGOW, Paris, Singapore and Tokyo, with over 1,200 employees and
500 lawyers. Arthur Andersen is one of the largest accounting firms in the world.
(c) Copyright 2000 Canjex Publishing Ltd. canada-stockwatch.com
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Another outstanding keith dd effort ... i'm in and getting inner ... cheers |
