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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 165.77

-0.2%

11:36 AM EST

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To: Wyätt Gwyön who wrote (37988)	8/13/1999 10:51:00 AM
From: Jack Jackson	Read Replies (1) of 152472

SYDNEY - Cellular phone company Hutchison Telecommunications (Australia) Ltd has set a final price of $2.30 a share in its initial public offering following today's close of the institutional bookbuild. Hutchison, the Australian arm of Hong Kong's Hutchison Whampoa Ltd, will raise a net $A235 million ($US152.63 million) when 29.5 per cent of the company is offered in a public float to help fund the development of its cellular phone network. Hutchison plans to use half the proceeds from the offer, which values the company at about $1 billion, to fund the development of its $500 million cellular phone network using CDMA technology. Pulse (http://www.asiapulse.com), the real-time, Asia-based wire with exclusive news, market intelligence and business opportunities:

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