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Technology Stocks : PCW - Pacific Century CyberWorks Limited

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To: ms.smartest.person who wrote (1983)	10/9/2001 4:11:59 AM
From: ms.smartest.person	of 2248

PCCW in 4-Day Gains on Reports of Bond Issue Plan Oct 09, 2001 - 10:41:55 HKT Quamnet News Service Pacific Century CyberWorks (0008), Richard Li's Asian communications vehicle, went on its four-day rally on reports that it is seeking a bond issue to refinance its debts amid falling interest rates. At 10:35 a.m. Hong Kong time, PCCW shares were up 1.2 percent at HK$2.15. Turnover was a heavy HK$76.8 million, the third most active issue. The stock was now 10 percent higher than the Sept. 11 level, outperforming the broader market with the benchmark Hang Seng Index falling 2 percent over the period. Weekly capital market magazine Basis Points said PCCW has been asking investment bankers to pitch on a bond issue that could extend its overall debt maturity, another attempt after a failure in July, the South China Morning Post reported. The English newspaper also reported that PCCW has sought permission from the Office of the Telecommunications Authority to sell bundled services between its fixed-line and broadband divisions at a discount to their market price. quamnet.com

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