( BW)(NY-J.P.-MORGAN)(JPM) J.P. Morgan announces ebookers.com plc's $70 million IPO on Nasdaq and Neuer Markt
BW1509 NOV 16,1999 9:09 PACIFIC 12:09 EASTERN
Business Editors
NEW YORK--(BUSINESS WIRE)--November 16, 1999--J.P. Morgan (JPM), as depositary bank, announced that ebookers.com plc, the U.K.-based online discount travel agent, commenced a sponsored American depositary receipt (ADR) program on Nasdaq (ticker: EBKR) and the Neuer Markt (ticker: eb6) in Germany, in conjunction with its $61 million initial public offering ($70.4 million including greenshoe), all of which was in ADR form. Each ebookers.com ADR represents one ordinary share.
"We welcome our new ADR shareholders as we begin a new phase of growth in the European online travel services market," said Dinesh Dhamija, chief executive and director, ebookers.com. "With J.P. Morgan's expertise in the ADR market, 9we think our holders will directly benefit from their high levels of depositary and equity services."
An e-commerce company, ebookers.com, offers online travel products and services in Europe. The company provides one-stop booking for negotiated discount airfares, and discounts with over 14,000 hotels around the world and five rental car companies. Customers can also book airline tickets at published fares and purchase travel insurance. The company serves the leisure and small business markets and intends to become a leader in the pan-European online travel market in these segments.
Ebookers.com's pro forma revenues for the year ended December 1998 were (pound)8.5 million ($13.4 million). The company is headquartered in London. Its corporate web site is: www.ebookers.com.
The world's largest ADR depositary and a global financial services firm, J.P. Morgan serves clients through an integrated range of advisory, financing, trading, investment management, and research capabilities. Visit www.adr.com, J.P. Morgan's central resource for timely worldwide market intelligence and investor information. For information on J.P. Morgan, visit www.jpmorgan.com.
-0- An ADS, or American depositary share, is a U.S. dollar-denominated form of equity ownership in a non-U.S. company. It represents a specified number of foreign shares on deposit at a custodian bank in the issuer's home country and carries the corporate and economic rights of the underlying foreign shares. An ADR, or American depositary receipt, is a certificate evidencing ownership of a certain number of ADSs. The term ADR is sometimes used to refer to ADS.
Neither this announcement nor the information contained herein constitutes an offer or solicitation by J.P. Morgan for the purchase or sale of any securities nor does it constitute a solicitation to any person in any jurisdiction where solicitation would be unlawful. Information herein is believed to be reliable but J.P. Morgan does not warrant its completeness or accuracy.
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CONTACT: Dynshaw Italia, ebookers.com plc, 44-171-757-2654
Seth Petok, J.P. Morgan, 212-648-3142
KEYWORD: NEW YORK
INDUSTRY KEYWORD: BANKING |
