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Technology Stocks : Marconi Corporation Plc. (OTC BB foreign: MRCQY)

MONI 0.00440

+14.0%

Oct 31 2:50 PM EST

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To: ms.smartest.person who started this subject	10/6/2000 10:39:25 PM
From: ms.smartest.person	of 44

Marconi to list on Nasdaq Shares in British network equipment maker jump after U.S. listing plans set cnnfn.com October 6, 2000: 5:50 a.m. ET LONDON (CNNfn) - British network equipment maker Marconi PLC said Friday it plans to list its shares on the technology heavy U.S. Nasdaq market in the week of Oct. 16. Optimism the move will stimulate demand for the company's stock sent the shares sharply higher in London. Marconi also said it received orders worth £3.3 billion ($4.8 billion) in the six months ended Sept. 30, compared with £2.7 billion a year earlier. Marconi (MNI) will announce its earnings for the year's first half on Nov. 29. Shares in Marconi gained 4 percent to reach 954 pence after the long-awaited announcement was mad e, bringing its market capitalization to £25 billion. Its stock earlier surged as much as 6.4 percent The company plans to launch a roadshow for investors in the U.S. next week. A Marconi spokesman said the company would not raise new funds in the listing. "The listing underlines our commitment to our employees, and customers in the U.S., where we have more than 40 percent of our business today, " Marconi Chief Executive George Simpson said in a statement. "It will mark the next step in the development of Marconi as a leading global broadband communications equipment supplier." Marconi, formerly known as the General Electric Co. PLC, adopted its current name last year following the sale of its weapons manufacturing unit to British Aerospace, now known as BAE Systems PLC.

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