Bell Canada International to Issue an Additional 2,700,000 Common Shares Pursuant to Underwriters' Over-Allotment Option.MONTREAL--(BUSINESS WIRE)--Oct. 1, 1997-- BELL CANADA (ME, TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). , VSE See DOS/VSE. VSE - Virtual Storage Extended , NYSE NYSE See: New York Stock Exchange :BCE BCE abbr. 1. Bachelor of Chemical Engineering 2. Bachelor of Civil Engineering BCE Abbreviation for before the Common Era. ) BCE today announced that the underwriters of the initial public offering of 18 million common shares of Bell Canada International Inc. ("BCI BCI Bat Conservation International BCI Brain-Computer Interface BCI Business Continuity Institute BCI Business Cycle Indicators BCI Banco de Credito e Inversiones (Chilean bank) BCI Bell Canada International ") have exercised their over-allotment option to purchase an additional 2.7 million common shares of BCI at the offering price of $22.50 per share, for a total consideration of Cdn $60,750,000. The underwriting syndicate is led by Nesbitt Burns Inc., RBC Dominion Securities
BCI is a leading provider of telecommunications services in emerging markets. 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. BCI also pursues opportunities in basic telephony and cable television to complement its presence in existing markets or as a means of entry into targeted geographic markets offering high growth potential. The net proceeds of 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. will be used to further develop BCI's existing businesses and to invest in future opportunities. The final prospectus was filed with regulatory authorities in all Canadian provinces and the offering was registered in the United States. The offering (including the exercised over-allotment option) is expected to close October 6, 1997. BCI has received conditional approval of the listing of the Common Shares on the Montreal Exchange and Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. under the symbol "BI" and has been approved for listing on the Nasdaq National Market under the symbol "BCICF", subject to official notice of issuance. BCE is Canada's largest telecommunications company. The BCE group includes: Bell Canada, the principal supplier of communications services in Ontario and Quebec; Nortel (Northern Telecom), a global leader in the design and building of telecommunications networks; Bell Canada International, a leading supplier of telecommunications services in the key emerging markets of Latin America and Asia; BCE Mobile, a provider of wireless services in Ontario and Quebec under the Bell Mobility banner; and Tele-Direct, a Yellow Pages(TM) directory publisher operating in Canada and internationally. BCE's shares are traded in Canada, the United States and in Europe. CONTACT: Bell Canada International Inc. Peter Burn, 514/392-2264 |
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