Softbank Investment International (HK0648) Message Board

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Technology Stocks : Softbank Investment International (HK0648)

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To: Yamakita who started this subject	8/3/2000 11:47:13 PM
From: ms.smartest.person	of 615

<font color=green>Softbank Inv (0648-HK) buys stake in CTN for $100m Softbank Investment International (Strategic) Limited has bought 2,000 shares of China Travel Service (Holdings) Hong Kong Limited's subsidiary, China Travel Net Limited (CTN) for $100 million. This is 10 pct of the entire issued share capital of CTN. The amount will be financed through xternal bank borrowings. The company's gearing ratio, will be increased to approximately 31 pct. Softbank's holdings in CTN shares will be locked up for one year. CTN's core business is to provide on-line travel agency services and travel-related software systems. China Travel Service holds 72 pct of CTN. For the year ended December 31, 1998, CTN had $1.79 million pro-forma consolidated net profit while for the year ended December 31, 1999, it was about $22.99 million. (End) 210.176.154.39 Quote: [hk.0648]@HK$1.330 (+0.030,+2.31%)(US$0.171)

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