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To: badon518 who wrote (4083)	2/23/2000 9:29:00 PM
From: TobagoJack	Read Replies (1) \| Respond to of 6018

Not particularly, as 1186/648 are dropping due to liquidity going into Tom.com IPO. The company will make US$ 12 milion from the deposit it holds over the next few days from share subscribers. The TV news last night showed old ladies subscribing to shares of the company that they can not pronounced the name of and do not know what its business is (the 440 page prospectus reads silly). But, you know that might makes money, and money makes right. Get the money, then figure out the business. We in HK are not paying any attention to the Taiwan issue, as it is for China, US and Taiwan consumption. A large chunk of my wife's fund is backed by Taiwanese, for investment in Chinese speaking regions, including China. Nope, there will not be a fight. Safely party on as long as NASDAQ holds, and holding it is. Crazy me just added 400 real 9984 shares at 166k. Chokeful of 9984 shares and warrants, feeling reckless. This 400 lot is for trading, maybe.

To: badon518 who wrote (4083)	2/23/2000 10:28:00 PM
From: TobagoJack	Read Replies (1) \| Respond to of 6018

The world, Japan in particular, will hopefully follow HK and enable our party in Maui ... Back in the gold old red chip days, the Shenzhen police had to used bamboo canes on IPO crowds to keep order and chaos ... but do not forget to leave the party while there are still some bunch in the jugs. Investors swamp Hong Kong for internet offering By Rahul Jacob in Hong Kong - 23 Feb 2000 19:29GMT Police were called to keep order on Hong Kong's streets on Wednesday when tens of thousands of investors queued for hours outside banks to hand in share applications for the listing of an internet company owned by the territory's most prominent tycoon, Li Ka-shing. Taking the global fascination with technology shares to a new level, so many investors rushed to put in their applications for the Chinese "infotainment" portal, tom.com, that the deadline had to be extended, said HSBC, the bank accepting the share applications. "People had been queueing up since the early hours of the morning," the bank said. Some estimated the total at close to 250,000. Police had to keep order outside the busiest branches and traffic was held up to allow the chaotic surge of pedestrians to cross the roads. "The line was never-ending," said Chris Jones, who deposited his application at a branch in Kowloon a little before the original deadline of noon yesterday. At another branch in Kowloon, about 50,000 people waited in the line at the busiest period, police said. Tom.com was started only in January and is still planning most of its services. Its e-commerce potential in the near-term is probably limited to a still-to-be introduced travel bookings service for visitors planning to go to China. None of this mattered to the local punters who believe the reputation of Mr Li, nicknamed Superman in Hong Kong, and the company's nominal technology status are enough to propel the shares well past the issuing price. The premium of tom.com's small issue of 428m new shares, priced at HK$1.78, it set to soar when it lists on March 1 because of its scarcity. Investors in Hong Kong are putting their faith in the main shareholders of the company rather than its business, said William Lo, who heads netalone.com, a Hong Kong internet company. "That's the way the market is functioning in Hong Kong. Investors here are like gamblers," said Mr Lo. Many local observers have compared the obsession with "tech" shares of any description with the "red chip" mania of 1997. That summer, new issues in Hong Kong of Chinese enterprises sparked similar runs for their application forms. Beijing Enterprises, the most popular, saw its shares rise from an issue price of HK$12.48 to HK$63 in August 1997. Many such companies , including Beijing Enterprises, today languish at levels below their issue price.