GigaMedia Announces Initial Public Offering
New York, NY February 17, 2000 -- Taiwan-based GigaMedia announced the
initial public offering of 8,830,000 of its common shares, priced at $27 a
share. The shares will be listed on the Nasdaq National Market under the
symbol "GIGM".
Goldman Sachs is the lead underwriter of the offering and Deutsche Bank
is the co-manager. The Company has granted the underwriters an option to
purchase up to an additional 1,324,000 common shares from the Company for the
purposes of covering, over-allotments, if any.
GigaMedia is a leading provider of broadband Internet access services and
content through its cable-based television network infrastructure in Taiwan.
The company has access to more than 3.4 million households and 465,000 small-
and medium-sized businesses. In addition to broadband access services, the
Company also offers interactive multimedia content through its Web destination
www.giga.net.tw. The site offers six interactive channels of Chinese-
language content: music, entertainment, news, games, finance, freeware and TV
programming sites.
Proceeds from the sale will be used to continue to fund the company's
content business development, capital expenses, and general corporate
purposes.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of these
securities in any state or jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
For More Information:
Julie Huang (U.S.) / Blanche Cheng (Taiwan)
Edelman Public Relations Worldwide
212 704-8114 / 886 2-2747-7560 x213 |
