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Technology Stocks : Softbank Investment International (HK0648) -- Ignore unavailable to you. Want to Upgrade?

To: Yamakita who wrote (400)	4/7/2000 1:21:00 AM
From: ghengis2	Read Replies (1) \| Respond to of 615

The exchange ratio was calculated based on the parties' shares' respective average traded price over a period of time preceding the deal's closing. In this case it was reported out as follows: interactive.wsj.com^J.SFT HK Softbank Investment, Chinadotcom In US$20M Shr Swap Dow Jones Newswires HONG KONG -- Softbank Investment International (Strategic) Ltd. (H.CWD) officially unveiled Thursday a US$20 million share swap agreement with Chinadotcom Corp. (CHINA) aimed at funding a new Asian Internet investment joint venture. Softbank Investment, the Hong Kong-listed investment vehicle of Japan's Softbank Corp. (J.SFT), will swap about 21.5 million new shares for 200,722 Chinadotcom shares, which are listed on Nasdaq. As reported, the two companies then plan to form a 50-50 joint venture to develop information technology-related businesses in Asia. The share swap agreement is based on the average closing prices of both shares over the 10 trading days ended March 30. Softbank Investment shares were valued at HK$7.23, which represents a 59% premium to its HK$4.55 closing price Monday before trading was suspended. Chinadotcom's shares were valued at US$99.64, an 80% premium to its US$55.25 close on Wednesday. Both shares had been hit by the recent downturn in technology shares. The joint venture will serve as a vehicle for Softbank of Japan to expand its presence in Asia while Chinadotcom will use the venture to expand in Japan. Trading in Softbank Investment's shares will resume Thursday.