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Technology Stocks : Softbank Group Corp -- Ignore unavailable to you. Want to Upgrade?

To: ms.smartest.person who wrote (5127)	5/24/2000 1:25:00 AM
From: Edwin S. Fujinaka	Read Replies (2) \| Respond to of 6019

Softbank heading down in Tokyo (around 1100 yen down) but this news was posted on Bloomberg: Nasdaq Japan Aiming for 55-60% of Japan's IPO Market, CEO Says By Laura Lai the Tokyo newsroom Tokyo, May 24 (Bloomberg) -- Nasdaq Japan Inc., which will open for trading June 19, is aiming to handle more than half of Japan's new public stock offerings next year, President and Chief Executive Officer Tatsuyuki Saeki said. Nasdaq Japan, a joint venture of the operator of the No. 2 U.S. stock exchange and Softbank Corp., Asia's largest internet investor, will list 60 companies for trading by the end of this year, Saeki told investors at a Bloomberg seminar, ``Electronic Equity Marketplace Summit 2000.'' The 60 companies include those moving from their current exchanges to Nasdaq Japan as well as dually listed companies that want to use Nasdaq Japan as well as their current exchanges. Saeki said Nasdaq Japan hopes to list 120 companies by next summer and grab 55 percent to 60 percent of about 200 initial public offerings expected next year. Since this year's peak on March 10, the U.S. Nasdaq Composite Index, more than half of which is made up of computer and Internet- related stocks, has declined about 37 percent. Although that slump has raised skepticism about the likely success of Nasdaq Japan, exchange officials are optimistic that ``the momentum for IPO listings won't be hurt,'' Saeki said. He called the fall in prices a ``shakedown process'' that would help focus attention on ``quality companies.'' Eight companies are slated to be traded on Nasdaq Japan when it opens for business: XNET Corp., Creek & River Co., Sugi Pharmacy Co., Digital Design Co., Digicube Co., Don Quijote Co., Honda Verno Tokai Co. and Masternet Co. Nasdaq Japan is the first in a series of overseas markets Nasdaq hopes to set up. It's now considering exchanges in Hong Kong and Europe. ¸2000 Bloomberg L.P. All rights reserved. Terms of Service, Privacy Policy and Trademarks.

To: ms.smartest.person who wrote (5127)	5/24/2000 2:53:00 AM
From: TobagoJack	Read Replies (1) \| Respond to of 6019

Merry693, Thank you for the posting (China's Internet sector has become so treacherous that Japan's Softbank will no longer invest in pure dotcom start-ups ... The company will, however, continue to invest money in Chinese start-ups, particularly traditional companies that can increase business by building an online presence). This is where I want to get off the bus. I do not know nearly enough about Japan, Korea and such but I do know China. I get paid a bundle for getting people into China and I get paid a bigger bundle for getting people out. No, no one I got in ever needed to get out. Softbank knows nothing at all about China and I wouldn;t know where to put $300 mm into China if I used my imagination, as most of the deals are done on high leverage off the local partner's balance sheet. If the neophyte in 9984 is placing money into China on that kind of scale, they will lose all of it. Alibaba has no revenue model and is run by a peasant who is proud to be a peasant. He is, however, backed by Goldman Sachs. Chinaquest (map) is pretty good and has good implementation; Sina (portal) is best so far, provides good news and therefore is on the government's shitlist; 8848 is garbage, iffish implementation and apparently is in the business of losing packages purchased by e-commerce clients. Internet China is treacherous. True. Traditional enterprises more so and there are a lot more of them. This revolution is going to cost a lot more blood than I imagined. If one could only corner the blood bank.