China.com Corp-(CHINA) Message Board

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Technology Stocks : China.com Corp-(CHINA)

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To: Julius Wong who wrote (6)	6/30/1999 11:48:00 PM
From: Researcher	Read Replies (1) of 504

Here is some more info: Paul-Y Property : Taking a stake in China.com Trading in the shares of Paul-Y Property (0276.HK, $7.75, OUTPERFORM) was suspended pending the announcement of the subscription of 500,000 news shares in China.com, to be listed on the US Nasdaq, at US$15 each. The shares will represent 2.4% of China.com's enlarged capital, and will involve a cash payment of US$7.5m ($58.4m). It is likely that New World Infrastructure (0301.HK, $13.65, OUTPERFORM) will in due course inject its 18.2% stake in China.com into Paul-Y in the future. Paul-Y has about $80m of cash after the latest share placement. Hence the initial investment in China.com could be financed internally. The China.com stake held by NWI will be worth $443m at the possible IPO price, implying an unrealised surplus of $300m on the shares. We expect both stocks to OUTPERFORM Stanley Tang Good investing Researcher

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