EBOOKERS.COM (ebkr) - priceline/expdia of Europe Message Board

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Technology Stocks : EBOOKERS.COM (ebkr) - priceline/expdia of Europe

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To: blankmind who wrote (54)	1/4/2000 10:35:00 PM
From: Gary Korn	Read Replies (1) of 85

1/5/00 Bus. Standard 6 2000 WL 2180640 Business Standard Copyright (c) Business Standard Wednesday, January 5, 2000 Dhamija plans IPO to fund European acquisitions Paran Balakrishnan London Dinesh Dhamija, the UK-based travel agent and Internet entrepreneur, is pushing ahead with plans for a second IPO in a move to turn his ebookers.com into Europe's fastest-growing online travel agency. Dhamija hopes to list ebookers in London and raise money for its growth programme. "We will be looking to come to the markets for more funding in 2000," says ebookers finance director Sanjiv Talwar. Ebookers has bought a Swedish travel agency STT Airways for around 3 million. The London-based online agency has bought companies across Europe after its $60 million floatation in mid- November. Dhamija started ebookers three years ago as an in-house website for his 15-year-old travel agency Flightbookers. In February, he turned ebookers into a separate company. Ebookers was oversubscribed 24 times when it listed on the Nasdaq and Frankfurt's Neuer Market in November. Ebookers wants to raise more cash for an extensive marketing campaign that will turn it into a household name across Europe. It is planning to spend 30 million pounds to raise its profile during the coming months. The agency has recorded third quarter sales of 5.1 million pounds and more customers across Europe are logging in. Ebookers specialises in offering discounted air fares for budget travellers. It needs to buy travel agencies across Europe which have local agreements with leading airlines for cheap fares. ---- INDEX REFERENCES ---- PRODUCT: European News/Features (DEE)

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