CHINA, china.com news
chinadotcom corporation Plans to Issue Additional Shares On the Nasdaq National Market
MON Jan 10, 00, 9:37 PM
prnewswire.com
chinadotcom corporation Plans to Issue Additional Shares On the Nasdaq National Market
HONG KONG, Jan. 10 /PRNewswire/ -- chinadotcom corporation (Nasdaq: CHINA)
filed a registration statement with the U.S. Securities and Exchange
Commission on January 6 for a public offering of its Class A common shares.
The company expects to offer 2,910,000 Class A common shares, and selling
shareholders expect to offer 970,000 Class A common shares in the offering,
totaling 3.88 million shares. The underwriters have been granted an
over-allotment option to purchase an additional 582,000 Class A common shares.
These securities are expected to be sold to the public in late January or
early February. Lehman Brothers and Goldman, Sachs & Co. are acting as joint
lead managers and bookrunners. Bear Stearns & Co, Inc., is acting as
co-manager.
On January 8, 2000 the 180 day contractual lockup with respect to
30,185,785 of chinadotcom's Class A common shares held by certain directors,
officers and institutional shareholders of chinadotcom expired. Of these
shares, approximately 27,713,989 will continue to be subject to the volume and
manner of sale restrictions of Rule 144 of the Securities Act of 1933, as
amended, and the balance will be eligible to be freely resold in the public
market.
chinadotcom corporation intends to use the proceeds of this secondary
offering for capital expenditures, acquisitions, and expanding its sales and
marketing operations.
The registration statement relating to the secondary offering of
3.88 million Class A shares was filed with the Securities and Exchange
Commission but has not yet become effective. These securities may not be sold
nor may offers to buy be accepted prior to the time the registration statement
becomes effective. This announcement shall not constitute an offer to sell or
the solicitation of an offer to buy, nor shall there be any sale of these
securities in any state or other jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such state or other jurisdiction.
About chinadotcom corporation
chinadotcom corporation is the first pan-Asian integrated Internet company
listed in the United States. The company provides a full range of Internet
services that; 1) build e-business strategies and solutions (Web Connection),
2) distribute content via its portal network (china.com, cww.com,
hongkong.com, and taiwan.com), and 3) sell services through online advertising
(24/7 Media Asia). chinadotcom corporation is committed to enabling digital
communities to realize their full potential, thereby facilitating the
development of the Internet in China and across Asia. The company has over
900 employees in 21 offices across 10 Asian markets, including Australia,
Hong Kong, Japan, Korea, Malaysia, Singapore, and Taiwan. In Mainland China,
the company has five offices and over 200 employees. Major corporate
shareholders include America Online Inc., Mitsui & Co. Ltd., Nortel Network
Corporation, Sun Microsystems Inc., New World Infrastructure Limited and
24/7 Media Inc. For more information about chinadotcom corporation, please
visit corp.china.com .
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<EDIT> Sorry, looks like an old news. US investors knew it last Friday.
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