>>During late afternoon trading, AsiaInfo Holdings Inc. (ASIA: Research, Estimates) climbed more than 285 percent, gaining 68-1/2, to 92-1/2.
The Beijing-based company offers Internet-related technology services and software in China, where it relocated from the United States in 1995. The initial public offering of 5 million shares was priced at $24, up from its range of $18 to $20. Morgan Stanley Dean Witter was the lead underwriter, with Deutsche Banc Alex. Brown and Donaldson, Lufkin & Jenrette as co-managers.
In 1998, AsiaInfo reported revenues of $44 million on a net loss of $1.5 million. Currently, the company is building two additional commercial Internet backbones in China.
UTStarcom Inc. (UTSI: Research, Estimates) gained 280 percent, or 50-7/16, to 68-7/16. The Alameda, Calif.-based firm provides voice and data communications equipment for Chinese service providers.<<
cnnfn.com
so out of control...
|
