PCW - Pacific Century CyberWorks Limited Message Board

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Technology Stocks : PCW - Pacific Century CyberWorks Limited

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To: ms.smartest.person who wrote (952)	4/3/2001 4:20:27 AM
From: ms.smartest.person	Read Replies (1) of 2248

Pacific Century Insurance Soars 10.7% on Buyout Rumors Apr 03, 2001 - 11:59:18 HKT Quamnet News Service Pacific Century Insurance Holdings Ltd. (0065), a unit of Richard Li's Pacific Century Group, surged as much as 10.7 percent in late morning trade, boosted by renewed speculation that the insurance company is in talks with interested buyers. At 11:48 a.m. local time, the stock added 10.7 percent to HK$2.325 on turnover of HK$10.9 million, compared with yesterday's full-day of HK$3.3 million. In February, Pacific Century Insurance said its parent Pacific Century Regional Development Ltd. is at a very preliminary stage of discussions with parties interested in the insurer's shares. Some analysts said Pacific Century Group needs to raise money by selling its insurance and other assets to develop its core communications businesses. China Insurance International Ltd. (0966), which has been speculated as a potential buyer for the stake, also gained 3.8 percent to HK$1.38 with turnover rising to HK$9.8 million from yesterday's full-day of HK$1.4 million.

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