Cheung Kong and Hutchison Whampoa Reiterate Priceline.com Support.Business Editors NORWALK Norwalk (nôr`wôk'). 1 City (1990 pop. 94,279), Los Angeles co., S Calif.; settled in the 1850s, inc. 1957. With the arrival (1875) of the Southern Pacific RR, it became a center for the dairy and logging industries, but , Conn.--(BUSINESS WIRE)--Sept. 20, 2001 Companies withdraw request for shelf registration to sell shares And obtain rights to purchase up to 37.5% stake in priceline.com (priceline.com Incorporated, Norwalk, CT, www.priceline.com) A Web-based travel shopping site launched in 1998 where buyers submit the price they are willing to pay for airline tickets, hotel rooms, vacation packages and rental cars. Priceline.com (Nasdaq:PCLN PCLN Priceline.com (stock abbreviation, AMEX) ) said today that Cheung Kong (Holdings) Limited and Hutchison Whampoa Hutchison Whampoa Limited or HWL (Traditional Chinese: 和記黃埔有限公司, HKSE: 0013 Limited have withdrawn their request for the filing of a shelf registration that would have given the two companies the ability to sell shares of priceline.com common stock. Priceline.com also said today that its Board of Directors had approved a Cheung Kong/Hutchison request giving the companies the ability to raise their ownership stake in priceline.com from their current combined level of approximately 27 percent to 37.5 percent. In total, Cheung Kong and Hutchison own approximately 60 million shares of priceline.com common stock. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion