Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Amazon.com, Inc. (AMZN) -- Ignore unavailable to you. Want to Upgrade?

To: Glenn D. Rudolph who wrote (66246)	7/5/1999 2:49:00 AM
From: GST	Respond to of 164684

Glenn -- Softbank is the energizer bunny -- up another 8% today: Monday July 5, 1:56 am Eastern Time Softbank soars to record high after new deals TOKYO, July 5 (Reuters) - Shares in Japan's aggressive Internet investor Softbank Corp surged to a record high on Monday as its recent string of investment ventures in Internet and technology firms fuelled market interest. Softbank's share price hit an all-time high of 28,500 on the Tokyo Stock Exchange, up by its limit of 2,000 yen or 7.55 percent. On Friday, OptiMark Technologies Inc, a privately held firm that runs an electronic stock trading system, said it will get a $100 million investment from Softbank. Softbank also struck deals with Rupert Murdoch's News Corp and France's Vivendi on Thursday to launch new U.S. Internet companies on the global stage. "Investors are aggressively seeking companies with profit potential, especially as overall market sentiment is improving," said Kokichi Kumagae, senior manager at New Japan Securities Co Ltd. Traders said Softbank, a leading issue in Japan's nascent Internet business, was attracting investors who expect the local market to experience the kind of Internet stock fever seen in the United States. Many traders said they could not see a specific resistance level for Softbank's share price. But some analysts, calculating from the combined value of Softbank's net assets and its latent profits in stock holdings, including those in unlisted firms, say the true value of the Softbank shares should be somewhere around 19,000 yen. Shares in Softbank have more than tripled this year as the firm and its president and entrepreneurial founder Masayoshi Son made headline after headline, building up an Internet empire through high-profile ventures. Softbank also surprised the market with a plan to team up with the Nasdaq stock market of the United States to create a sister electronic trading system here, dubbed Nasdaq Japan. Originally started as a computer software distributor, Softbank has aggressively expanded and now holds stakes in more than 100 Internet-related firms in Japan and the United States.

To: Glenn D. Rudolph who wrote (66246)	7/5/1999 2:53:00 AM
From: GST	Respond to of 164684

Glenn -- more on Asia -- the revolution is at hand. Monday July 5, 1:46 am Eastern Time China Unicom eyes foreign listing in November BEIJING, July 5 (Reuters) - China Unicom is expected to list shares in Hong Kong or on the Nasdaq in November this year, state media reported. The Beijing Youth Daily said in an edition seen on Monday that Unicom, a state-owned firm seen as the major competitor to state giant China Telecom, was also likely to float the shares for a dual listing on the two bourses. Unicom had appointed a foreign company as the underwriter for the offer, which was expected to raise $1.0 billion for an expansion of Unicom's mobile phone network, it said, quoting a Guangzhou-based newspaper. It did not identify the foreign underwriter, while Unicom officials contacted by telephone declined to comment. Last month, a Unicom executive told Reuters that Unicom was considering an overseas listing to raise proceeds of $1.0 billion in one of the largest initial public offerings by a Chinese enterprise. The official said the listing plan remained in a preliminary stage but Unicom had contacted a number of foreign investment banks for the listing. The Guangzhou newspaper was quoted as saying Unicom ''must resolve the problem related to irregular overseas investment'' ahead of the listing, apparently referring to the China-China-Foreign (CCF) joint venture model. The model, which Beijing has deemed as unacceptable, allowed foreign companies to skirt a ban on direct involvement in telecom providers through partnership with Chinese firms which established joint ventures with China Unicom. Foreign company officials have said Premier Zhu Rongji disliked the model, which gave foreign firms effective control of the joint ventures, and ordered a halt last year to further foreign investment. China Unicom has frozen about $16 million in shared profit payments due in March to several of its overseas partners, which have invested a total of $1.4 billion in CCF ventures. Many made money on installation and consulting fees. ''Relevant authorities have ordered China Unicom to look for ways to compensate overseas firms which illegally hold stakes in the company,'' the Beijing Youth Daily said, without giving further details. Some Chinese analysts said Unicom was likely to let its foreign partners hold a portion of shares to be offered abroad.