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Technology Stocks : Pacific Century CyberWorks (PCW, PCWKF) -- Ignore unavailable to you. Want to Upgrade?

To: ms.smartest.person who wrote (714)	3/18/2000 2:16:00 PM
From: ms.smartest.person	Read Replies (1) \| Respond to of 4541

A PCCW Investment - iMerchants flotation tipped to raise $290m HONGKONG STANDARD --Dennis Ng -- 03/17/2000 E-COMMERCE solutions provider iMerchants is expected to raise about $290 million by floating its shares on the Growth Enterprise Market by the end of this month, according to market sources. They suggested that iMerchants recently had obtained approval for its GEM listing. Sources close to the deal said the price would range between $1.2 and $1.46 per share, and the listing would only involve a share placement. Senior executives of iMerchants would take an international roadshow to London, Singapore and Milan next week. The roadshow would last one to two weeks, market sources added. iMerchants, a Hong Kong company founded in 1996, provides end-to-end e-commerce solutions and consulting services to enterprises in Asia. Pacific Century CyberWorks recently acquired a stake in iMerchants for an undisclosed consideration. Its chairman and chief executive officer, Leroy Kung Lin-yuen, said yesterday the company now provides three kinds of services _ consulting, services bureau and capital financing. Consulting services help enterprises to get set up in e-commerce, while the services bureau is a provider of end-to-end e-commerce solutions tailored to customer needs. Capital financing is private investment in new start-up companies which can bring synergies to iMerchants. Mr Kung said the consulting services had accounted for most of the company's income in the past few years. But he anticipated this would change and that the services bureau division would become the major income source within two years. He said the company wanted to become a Web-enabling solutions provider to Asia, and he expected strong market growth this year and onwards. iMerchants now has three major sources of income, including consulting fees, services fees for e-commerce platforms and commission income from online auction services, Mr Kung said. It also has invested in five projects through its capital financing division, but he stressed it was not a venture capital firm. He declined to provide any detailed figures on its business performance due to the listing plan. Mr Kung said iMerchants had a staff of about 70 at its Hong Kong headquarters and this was expected to grow to 120 by the third quarter of this year. Meanwhile, to attract more business, iMerchants planned to open offices this year in Singapore, Beijing and India. nrstg2p.djnr.com