SUNBIZ EXPLORES NASDAQ LISTING
May 25th...
PRESS RELEASE
SUNBIZ EXPLORES NASDAQ LISTING
· Financial adviser appointed to prepare foreign listing strategy proposal
· SunBiz’s listing may migrate to other foreign exchanges like NASDAQ
Singapore, 26 May 2005 – Sun Business Network Ltd (SunBiz) is exploring
alternatives in issuing its shares on NASDAQ and/or other public markets outside
Singapore, and potentially privatizing its shares from the Stock Exchange of
Singapore.
Said Bruno Wu, SunBiz’s Executive Chairman: “We constantly seek to create
and enhance shareholders value. In this regard, if a primary or secondary listing
in NASDAQ or other bourses accomplishes this, we will certainly consider it.“
In this regard, it has appointed Hongkong-based investment banking firm FB
Gemini Capital as its financial advisor:
· to prepare a listing strategy proposal to explore these alternatives,
· should it decide to issue, sell, convert or transfer any shares on any Foreign
Exchanges (“the Transaction”) and/or involved in a delisting,
· as well as placement agent for the Transaction should there be an offering
of SunBiz shares to investors.
FB Gemini will advise SunBiz on all issues related to a potential investment,
solicit potential investors, and advise on negotiations with potential investors.
Currently, FB Gemini is assisting the company in securing the services of other
internationally renowned investment banking firms to facilitate the listing of the
company’s shares on NASDAQ.
“Meanwhile, the deal to inject Asia Multi-Media Technology (“AMMT”) into
NASDAQ-listed SE Global Equities is still proceeding. We will make an
announcement at the next milestone,” said Dr Wu.
AMMT owns a 34,480 km fibre optic network in China and is held through
SunBiz’s 20.5 per cent-owned Asia Network Technologies.
For more information, please contact:
Mr Ricky Ang at Sun Business Network Ltd at 9755 4094
or e mail at ricky@sunbuisinessnetwork.com
Ms Nora Cheng at OakTree Advisers at 9634 7450
or e mail noracheng@oaktreeadvisers.com
Ms Joyce Quek at OakTree Advisers at 9816 6040
or e mail joycequek@oaktreeadvisers.com
About Sun Business Network (SunBiz)
Home-grown and Sesdaq-listed SunBiz is a well-known publisher of niche
magazines in Asia, with over 30 titles in three languages in fast-growing sectors
such as finance, ICT, and tourism.
The Group was known as Panpac Media until 7 February 2005. After a repositioning
exercise in 2004, it is set to grow earnings from New Media forms
such as specialised electronic publishing, and data back-up & disaster recovery
to take the Group beyond Singapore, Malaysia and Hong Kong.
SunBiz’s vision is to become Asia’s first fully integrated multimedia business
information services group with a strong focus on the China market. It hopes to
achieve this with the support of major shareholder/executive chairman, Dr Bruno
Wu, and his Sun Media Investment Holdings (SMIH).
Dr Wu was formerly co-Chairman of SINA Corp, the world's largest Chinese
Internet media company, and Chief Operating Officer of ATV of Hong Kong.
Educated in France, the US, and China, he sits on the International Council of
the Museum of Television & Radio in New York and Los Angeles. He is also
Chairman of the Finance & Development Committee of the International
Academy of Television Arts & Sciences, the world’s largest broadcasting
organization that presents the annual International Emmy Awards.
SMIH is one of the three industry giants among the 13 private media firms rated
by Media magazine of China. It ranked first in net assets (Rmb2.64b), and net
profit (Rmb0.72b), and second in revenue (Rmb1.37b). This debt-free group is
the most diversified among peers, with stakes in magazine publishing, TV
production, multimedia, satellite cable TV, films, advertising and distribution. It
has shares in over 20 media operations, and controls 60 brands and products in
12 countries. |
