[00-8-22] Hong Kong's CyberWorks Debuts On New York Exchange
By Adam Creed, Newsbytes.
NEW YORK, NEW YORK, U.S.A.,
22 Aug 2000, 8:41 PM CST
Hong Kong's CyberWorks Debuts On New York Exchange 08/22/00 NEW YORK, NEW YORK, U.S.A., 2000 AUG 22 (NB) -- By Adam Creed, Newsbytes. Now regarded as one of Asia's largest Internet companies, if not the largest, Pacific Century CyberWorks [NYSE:PCW] debuted on the New York Stock Exchange today.
CyberWorks American Depositary Receipts (ADRs) - each representing ten ordinary shares in the Hong Kong-listed company - made no great moves on the NYSE today. The ADRs ended the day close to the $19.625 listing price.
CyberWorks has interests in Internet and Web-based businesses, telecommunications, media and content development. The company recently completed a takeover of Cable & Wireless HKT Ltd, Asia's largest-ever merger.
The New York listing is an attempt to bring in international and US-based investors.
CyberWorks claims the title of largest Internet company in Asia by market capitalization. The company has a number of strong alliances in Asia and the US, as well as deep pockets that will see it expand into Japan and China rapidly through converged Web and TV services.
Reported By Newsbytes.com, newsbytes.com .
20:41 CST
(20000822/WIRES ASIA, ONLINE, BUSINESS/)
© 2001 The Washington Post Company
newsbytes.com |
