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Technology Stocks : PCW - Pacific Century CyberWorks Limited

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To: ms.smartest.person who wrote (1986)	10/13/2001 9:22:51 PM
From: ms.smartest.person	Read Replies (1) of 2248

PCRD issues US$250M PCCW (0008) exchangeable bonds 2001-10-11 19:20 (Infocast News) Pacific Century Regional Developments, the parent company of PCCW (0008), said that it plans to issue a US$250 million exchangeable bond. The bond is due 2006. The bond is exchangeable into PCCW shares. The exchangeable price is $2.29 each share, representing a premium of 4% to today's closing. If the exchangeable bond is fully exercised, the shares represent 3.7% of the issued share capital of the company. The investors of the exchangeable bond include American International Assurance Company (Bermuda) Ltd and related funds. The bonds are to replace the previous bond issued to the same investors. The strike price of the previous bond is $19 per share, far higher than the current share price. PCCW closed at $2.2 today, down $0.025 or 1.149%. infocastfn.com

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