Pacific Century CyberWorks (PCW, PCWKF) Message Board

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Technology Stocks : Pacific Century CyberWorks (PCW, PCWKF)

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To: ms.smartest.person who wrote (4411)	1/9/2001 10:20:25 PM
From: ms.smartest.person	Read Replies (1) of 4541

Hutchison sets bond to share ratio Hutchison Whampoa (13)'s US$2.5 billion three-year bond issue convertible into shares in Vodafone Group Plc was priced at 99.375 per cent, said a banker at co-underwriters Goldman Sachs. The note issue, which is also underwritten by Merrill Lynch, surprised global markets when it was revealed on Monday, and carries a coupon of 2 per cent, payable semi-annually. The conversion ratio is 214.51 Vodafone shares per US$1,000 bond, based on a fixed exchange rate of US$1.503 per pound, the banker said. All of the notes have been sold, with closing for the issue scheduled for January 12. The shares represent 1.1 per cent of outstanding stock in Vodafone, the world's largest mobile phone company, and effectively cuts Hong Kong conglomerate Hutchison's holding in the firm to 1.2 per cent from about 2.3 per cent. 36.com@@@@0797192095.0979096768@@@@&BV_EngineID=dialjkifmgkibedcgcgckg.0&oid=538661450

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