Bell Canada International Lists On The Nasdaq Stock Market.WASHINGTON--(BUSINESS WIRE)--Sept. 30, 1997--Bell Canada International (BCI), a leading provider of telecommunications services in emerging markets, today began trading on The Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. (SM). Eighteen million common shares priced at approximately US $16.26 per share were offered on Nasdaq, The Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. , and The Montreal Stock Exchange Montreal Stock Exchange See Bourse de Montreal, Inc. (Canadian Derivatives Exchange) . The shares will list on The Nasdaq Stock Market initially under the symbol BCIFV, which will later change to BCICF. The IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. is expected to raise approximately US $293 million after expenses. The underwriting syndicate is led by Nesbitt Burns, Inc., and includes RBC Dominion Securities
BCI is a subsidiary of Bell Canada, which is Canada's largest telecommunications company. The company owns, develops and operates telecommunications systems outside of Canada, primarily in Latin America and the Asia-Pacific region with a focus on the wireless sector. The company had revenues of US $155 million in 1996 and US $121 million for the first six months of 1997. BCI's six mobile wireless operating businesses in Colombia, Brazil, China, India and Taiwan serve a total population of 192 million and include COMCEL, the leading cellular service provider in Colombia. BCI also has a cable-telephone operation in Brazil serving an area with one million households and four projects under development in Brazil, India, Colombia and Mexico. "We're thrilled that Bell Canada has chosen to list on Nasdaq. It will join some of the fastest growing telecommunications companies in the world and more than 430 non-US companies listed on Nasdaq, including 157 Canadian companiesmore foreign listings than on all other US markets combined" said Frank Zarb, Chairman, CEO, and President of the National Association of Securities Dealers National Association of Securities Dealers (NASD) Nonprofit organization formed under the joint sponsorship of the investment bankers' conference and the SEC to comply with the Maloney Act, which provides for the regulation of the OTC market. , Inc. (NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). (R)). The Nasdaq Stock Market is the fastest growing stock market in the United States and the world's largest electronic market. Nasdaq is a subsidiary of the NASD, the largest securities-industry self-regulatory organization in the United States. For more information on Nasdaq, visit its Web site at http://www.nasdaq.com. CONTACT: Reid Walker 202/728-8243 |
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