HK PCCW's iLink To Issue 110M Shrs At HK$1.10-1.28/Shr
Updated: Wednesday, February 14, 2001 05:13 AM ET
HONG KONG (Dow Jones)--Data center operator iLink Holdings Ltd., which is controlled by Pacific Century CyberWorks Ltd. (PCW, news, msgs), will issue 110 million shares between HK$1.10 to HK$1.28 each, raising up to HK$140.8 million from its share sale, an underwriting source said Wednesday.
The issue size represents 10.5% of the enlarged issue share capital of the company.
The shareholding of Dell Ventures, the venture capital arm of U.S. Dell Computer Corp. (DELL, news, msgs) will be diluted to 4.5% of from 6%.
iLink provides server hosting, facilities management, Internet connectivity, network management services.
The company, which currently has two data centers in Hong Kong, plans to use the proceeds to develop data centers China and other parts of Asia.
PCCW holds a 41% stake in iLink. iLink will still remain an associated company of PCCW when PCCW exercises a convertible note upon listing.
Book building starts Feb. 26-28. Trading of shares commences March 9 on the second board.
BNP Paribas Peregrine is the sponsor and joint lead manager of the deal.
-By Sonia Tsang, Dow Jones Newswires; 852-2802-7002; sonia.tsang@dowjones.com
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