Pacific Century CyberWorks (PCW, PCWKF) Message Board

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Technology Stocks : Pacific Century CyberWorks (PCW, PCWKF)

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To: ms.smartest.person who wrote (715)	3/18/2000 2:19:00 PM
From: ms.smartest.person	of 4541

Another investment - Sina.com Gets Official Approval To List Abroad 03/17/2000 China Online Copyright (C) 2000 China Online; Source: World Reporter (TM) Sina.com has finally gotten official approval from the Chinese government to list overseas, the March 16 Caijing Shibao (Financial Daily) reported. "According to reliable sources, Sina.com's overseas listing has been approved by the Ministry of Information Industry and the China Securities Regulatory Commission," the article said. "The reporter has received confirmation of the news from Sina.com's top executives." The report did not state whether further approvals are necessary or whether Sina will now be able to go ahead with its long-anticipated Nasdaq initial public offering. Sina.com originally planned to list late last year, but a management shakeup in September caused delays. Since then, the company has been awaiting official approval from Beijing. Government officials may have delayed the approval because of Sina's large amount of foreign funding. Beijing is against foreigners having a controlling share of Chinese Internet companies and Sina.com counts Softbank Corp, Dell Computer Corp, Pacific Century CyberWorks and Walden Group among its foreign investors. Sina may still need a nod from China's State Council before going ahead with its IPO. The article in the Financial Daily ended on a hopeful note, saying, "It is also learned that other web sites will be given approval for listing overseas soon." This can only be good news for Chinese Internet companies that have been watching firms like Chinadotcom and Pacific Century CyberWorks and, more recently, AsiaInfo Holdings and UTStarcom, cash in on Wall Street. nrstg2p.djnr.com

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