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Technology Stocks : Bookham Technology
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To: puborectalis who wrote (157)9/6/2000 6:22:29 AM
From: ColtonGang  Read Replies (1) of 376
 
BKHM to issue new shares.....will temporarily hurt the stock.......Bookham share sale to total 730 mln stg

(UPDATE: Adds more details throughout)

LONDON, Sept 6 (Reuters) - Bookham Technology Plc said on Wednesday it was
considering acquisitions as it signalled that a planned share sale would raise about 730 million
pounds for investors and the fibre-optic components maker.

The British electronics company said a share sale announced last month would total 18.5
million shares, comprising 15.4 million shares held by investors and 3.1 million new shares.

Bookham shares fell 6.7 percent to 39.61 pounds on the announcement, valuing the share sale at 733 million pounds.

The company said in a statement that the sale of new shares would provide funds for potential acquisitions as well as the
accelerated expansion plan announced in August.

Bookham, which makes silicon chips that control light signals in fibre-optic networks, said it planned to price the shares in the
week of September 18.

``The secondary offering will facilitate three objectives: increased trading liquidity in its shares, broader ownership of its shares
and the orderly management of the expiry of IPO lock-ups,'' it said in a statement.

The money raised by the company was earmarked for increases in production, research and development and staff, ``and to
provide additional funds to enable Bookham to take advantage of potential add-on acquisitions''.
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