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Technology Stocks : Softbank Investment International (HK0648)
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To: Yamakita who wrote ()2/17/2000 10:14:00 PM
From: high.hopes  Read Replies (2) of 615
 
News-Cheung Wah Owners to Sell Shares Worth HK$1.35

Bln, SCMP Says
By Paul Scanlon

Hong Kong, Feb. 18 (Bloomberg) -- Cheung Wah Development Co.
Ltd.'s majority shareholders plan to sell 100 million existing
shares for about HK$1.35 billion ($173 million), the South China
Morning Post reported, citing unidentified people at Jardine
Fleming, which will manage the sale. Chairman Lawrence Yu Kam-kee
and his family will sell the shares to institutional investors in
Hong Kong, the U.S. and Europe. The shares are likely to be sold
at the high end of the HK$13.15 to HK$13.55 price range, with the
Hong Kong tranche already fully subscribed, the paper said.

Cheung Wah's shares jumped sevenfold in January after
Softbank Corp., Japan's largest Internet investment company, said
it would buy a controlling stake in the company and use it to
invest in Internet businesses throughout Asia. ______________________________________________________
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