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Technology Stocks : China.com Corp-(CHINA)

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To: sjemmeri who wrote (86)	7/12/1999 9:43:00 PM
From: Mohan Marette	Read Replies (1) of 504

China.com IPO prices above expectations NEW YORK, July 12 (Reuters) - Shares in Chinese Internet service provider portal China.com Corp. Cl A (Nasdaq:CHINA - news) priced at $20 per share above the already raised expected price range of $17-$19, underwriter Lehman Brothers said on Monday. The 4.2 million shares originally were expected to price between $14 to $16. The shares will trade on the Nasdaq under the ticker ''CHINA.'' Investors are attracted to the stock not only because it is a much coveted Internet stock, but it also marks on of the first opportunities to invest in China. Hong Kong-based China.com also is expected to reap the reward from positive sentiment toward Asia as the economic recovery picks up steam. Some of the Internet's top players hold stakes in the company -- America Online Inc.(NYSE:AOL - news), Sun Microsystems Inc.(Nasdaq:SUNW - news), and 24/7 Media Inc.(Nasdaq:TFSM - news) AOL holds a 10 percent stake. 24/7's is about 9.5 percent. New World Infrastructure Ltd. owns 20 percent. China.com operates four major Internet Web sites that offer Chinese and English language content and electronic mail.

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