AGCX to move to NYSE under AX
Press Release
SOURCE: Asia Global Crossing Ltd.
Asia Global Crossing to Move to the New York Stock Exchange
HONG KONG, June 19 /PRNewswire/ -- Asia Global Crossing Ltd. (Nasdaq: AGCX - news), today announced that, effective June 25, 2001, it will commence trading on the New York Stock Exchange (``NYSE'') under the symbol ``AX.'' The company's shares will continue to trade on the Nasdaq Stock Market until that time.
(Photo: newscom.com )
To celebrate the listing, Gary Winnick, chairman of Asia Global Crossing and its parent company Global Crossing, and John Legere, Asia Global Crossing chief executive officer, will officiate the NYSE opening June 25.
``With seven joint ventures formed, a network in service carrying customer data between Japan, Hong Kong, and the rest of the world, Taiwan coming on line by the end of this month, Korea in the next quarter, Singapore by the end of the year, and the Philippines and Malaysia by early 2002, since our initial public offering in October 2000, Asia Global Crossing has emerged as one of the leading pan-Asian providers of telecommunications infrastructure and services,'' said Winnick. ``Now, just eight months later, Asia Global Crossing joins it parent Global Crossing on the 'big board,' and we are honored to trade among the most respected companies in the world.''
``The addition of Asia Global Crossing to our family of listed companies is a privilege and prominently expands our growing network of great global enterprises,'' said NYSE Chairman and Chief Executive Officer Dick Grasso. ``In Asia Global Crossing, we proudly welcome a valued brand and vital player in the pan-Asian telecommunications landscape and, like Global Crossing, a truly world-class provider of telecommunications services. We look forward to a long and productive partnership with the company and its shareholders.''
About Asia Global Crossing
Asia Global Crossing (Nasdaq: AGCX - news), a public company whose largest shareholders include Global Crossing (NYSE: GX - news), Softbank (Tokyo Stock Exchange: 9984), and Microsoft (Nasdaq: MSFT - news), provides the Asia Pacific region with a full range of integrated telecommunications and IP services. Through a combination of undersea cables, terrestrial networks, city fiber rings and complex web hosting data centers, Asia Global Crossing is building one of the first truly pan-Asian networks, which, in combination with the worldwide Global Crossing Network, will provide the Asia Pacific region with seamless access to major business centers worldwide. As part of its strategy to provide city-to-city connectivity, Asia Global Crossing partners with leading companies in each country it connects to provide backhaul networks.
Statements made in this press release that state the Company's or management's intentions, beliefs, expectations, or predictions for the future are forward-looking statements. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause the Company's actual results to differ materially from those projected in such forward-looking statements. These risks, assumptions and uncertainties include: the ability to complete systems within currently estimated time frames and budgets; the ability to compete effectively in a rapidly evolving and price competitive marketplace; changes in the nature of telecommunications regulation in the United States, Asia, and other countries and regions; changes in business strategy; the successful integration of newly-acquired businesses; the impact of technological change; and other risks referenced from time to time in the Company's filings with the Securities and Exchange Commission. One is cautioned not to put undue reliance on such forward-looking statements, which speak only as of the date of this press release. Asia Global Crossing expressly disclaims any obligation to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise. |
