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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (56024)	11/16/2004 7:02:55 PM
From: RealMuLan	Read Replies (1) \| Respond to of 74559

China Netcom Shares Jump 14 Percent in Trading Debut (Update1) [This company does have a monopoly in China. And they charge 20 cents/minute for calls within Beijing, compared with 2-3 US Pennies (17-25 RMB Cents) for the call from the US to China. So just imagine their profit] bloomberg.com Nov. 16 (Bloomberg) -- Shares of China Netcom Group Corp (Hong Kong) Ltd., China's second-biggest fixed-line phone company, jumped 14 percent in their New York trading debut after it sold stock for less than competitors. The company's American depositary shares rose to $24.90 in New York Stock Exchange composite trading from an initial public offer price of $21.82. China Netcom raised $1.14 billion to expand its networks and pay bank loans. The Beijing-based company lured investors with higher dividends and a cheaper price relative to earnings than its biggest rival, China Telecom Corp., said Preston Ko, who bought the stock for the $120 million fund he helps manage at BCOM Finance (Hong Kong) Ltd. ``Demand for this stock is better than I expected,' Ko said before the shares began trading. ``Investors will receive a stable flow of income due to its higher yield.' ...