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To: S.A. Smith who wrote (4720)	2/11/1999 9:59:00 AM
From: blankmind	Read Replies (1) \| Respond to of 19700

Singapore's SembCorp Trims Stake In Pacific Internet To 55% Dow Jones Newswires -- February 11, 1999 SINGAPORE (Dow Jones)--Singapore conglomerate SembCorp Industries Ltd. (P.SWG) said Thursday it has trimmed its stake in Pacific Internet Ltd. (P.PCX) to 55% by selling 815,516 shares through an initial public offering on Nasdaq. Before the sale, SembCorp held about 61% of Pacific Internet through its unit, Sembawang Ventures Ltd. The shares were sold at US$17 each and brought in about US$13.8 million, SembCorp said.