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

To: ms.smartest.person who wrote (1884)	8/24/2001 2:19:01 PM
From: ms.smartest.person	Respond to of 2248

PCI stock price has boost on sale talk Friday, August 24, 2001 LORETTA LEUNG Shares of Pacific Century Insurance (PCI), the insurance arm of Singapore-based Pacific Century Regional Development (PCRD), rocketed 18.5 per cent following an announcement that PCRD was in talks to sell its stake. Rumours that the Richard Li Tzar-kai controlled PCRD would sell its 44.8 per cent holding had existed for a long time and the market reacted positively to news that a possible buyer had been found for the Hong Kong-based insurer. PCI said in a statement on Wednesday that PCRD was in preliminary talks to sell its interest in the company. "The board has been informed by PCRD that discussions with interested parties at the date of this announcement are still at a very preliminary stage," it said, adding "and no decision has yet been taken by PCRD to dispose of its interest in the company." The news sent PCI shares rising sharply to a high of HK$2.125 in yesterday's early trade, its highest level recorded this month. The shares closed at HK$2.05. Meanwhile, PCRD shares in Singapore were up 2 per cent at 50 Singapore cents. biz.scmp.com