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Technology Stocks : Internet Capital Group Inc. (ICGE) -- Ignore unavailable to you. Want to Upgrade?

To: kumar who wrote (1425)	3/11/2000 9:32:00 AM
From: Mohan Marette	Respond to of 4187

I don't think it is about toy making, instant listing is probably what prompted them to acquire majority stake in Harbour Ring. ICG AsiaWorks ICG, Hutchison, and Li Ka-shing Foundation Limited are acquiring a combined controlling stake in a listed company on the Hong Kong Stock Exchange, Harbour Ring International Holdings (HK: 715), and renaming it ICG AsiaWorks Limited. ICG will be the majority shareholder. Closing is conditional upon the approval of the transaction by the shareholders of Harbour Ring (if required by the Hong Kong Stock Exchange or the Securities and Futures Commission, the independent shareholders), listing approval from the Hong Kong Stock Exchange and the granting of a whitewash waiver from the Securities and Futures Commission, as well as certain other conditions. ICG AsiaWorks will acquire and build leading Asian-based B-2-B market makers and infrastructure companies, such as digital exchanges, consulting firms, software companies, and outsourced service providers. In addition, ICG AsiaWorks will operate several business incubation centers in Hong Kong and Greater China that will serve as a platform for bringing Internet Capital Group's market makers and partner companies to Hong Kong and Greater China. The incubation centers will also start new Asian-based companies. ICG AsiaWorks will accelerate the development of these companies by providing strategy, technology and executive recruiting, in addition to the global operational expertise of ICG's executive team and 55 partner companies.