Korea Thrunet Co Ltd - (KOREA) Message Board

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Technology Stocks : Korea Thrunet Co Ltd - (KOREA)

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To: Mohan Marette who wrote (21)	11/17/1999 1:28:00 AM
From: Mohan Marette	Read Replies (2) of 406

S.Korea's Thrunet sees Nasdaq listing on Nov 17 Tuesday November 16, 6:58 pm Eastern Time SEOUL, Nov 17 (Reuters) - South Korean Internet service provider Thrunet Co Ltd said on Wednesday its share listing on the Nasdaq index was likely to be made from the start of November 17 New York time. ``All preparatory work has been concluded and the listing is most likely to take place at the beginning of November 17,' a company official, who declined to be named, told Reuters. Thrunet is seeking to raise about $117.5 million in an initial public offering by selling 9.8 million Class A common shares at a projected price range of $12-$14 per share. The company official said demand was ``much stronger' than had been expected, but declined to comment on the expected price. South Korean computer maker Trigem Inc and electricity utility Korea Electric Power Corp along with Microsoft Corp (NasdaqNM:MSFT - news) are major shareholders in Thrunet, with a combined holding of 31 percent. Thrunet will be the first South Korean company to list on the Nasdaq market while several other companies, mostly telecommunications ventures, have announced plans to follow. biz.yahoo.com

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