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Technology Stocks : PCW - Pacific Century CyberWorks Limited -- Ignore unavailable to you. Want to Upgrade?

To: ms.smartest.person who wrote (1060)	4/12/2001 12:25:41 AM
From: ms.smartest.person	Read Replies (1) \| Respond to of 2248

PCCW Says No Fund-Raising Exercise Underway Apr 11, 2001 - 10:10:52 HKT Quamnet News Service Pacific Century CyberWorks (0008), which owns Hong Kong's largest phone company, said it's not contemplating any fund-raising exercise for the time being. "PCCW wishes to clarify, contrary to recent press articles, the company is not currently contemplating any fund-raising exercise," Richard Li's Internet and telecoms company said in a statement this morning. PCCW's response came after a number press reports said that the company was desperate to raise funds after posting huge losses for full-year 2000. The Oriental Daily News reported Monday, citing unnamed sources, that PCCW might initiate a rights issue at HK$2 per share to raise HK$9 billion if the results of its asset disposal were not satisfactory. Last Friday, the Hong Kong Economic Times reported, also without naming sources, that PCCW has quietly appointed an international surveyor to seek buyers for its leasing rights to Hongkong Telecom Tower in Quarry Bay and the Broadway in Wan Chai. PCCW's leasing rights for the Telecom Tower are thought to be worth HK$3 billion, according to the paper. quamnet.com