China.com IPO Priced at $20 Per Share.HONG KONG--(BUSINESS WIRE)--July 12, 1999-- China.com (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : CHINA) today announced that its initial public offering of 4,200,000 Class A common shares was priced at US$20 per share. Lehman Brothers Lehman Brothers Holdings Inc. (NYSE: LEH), founded in 1850, is a diversified, global financial services firm. It is a participant in investment banking, equity and fixed income sales, research and trading, investment management, private equity, and private banking. is acting as the lead managing underwriter Managing underwriter The leading firm in an underwriting group, which originates the deal and acts as an agent for the group. managing underwriter See lead underwriter. of the offering and Bear Stearns The Bear Stearns Companies, Inc. (NYSE: BSC) is the parent company of Bear, Stearns & Co. Inc., one of the largest global investment banks and securities trading and brokerage firms in the world. is the co-lead manager. China.com's net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). from the offering will be used for capital expenditures, expanding the sales and marketing operations, and for general corporate purposes. China.com Corporation is a pan-Asian Internet company delivering content, community, and commerce to Chinese language audiences interested in services emphasizing the People's Republic of China, Hong Kong and Taiwan. China.com offers services through its Portal Network, comprised of four Internet Web sites, www.china.com, www.cww.com, www.hongkong.com, and www.taiwan.com, each of which acts as a gateway to the Internet. Services provided include search engines, directories, e-mail, chat and message boards, and e-commerce products. China.com also provides Internet advertising services involving the sale, electronic delivery and tracking of advertisements on a network of pan-Asian Web sites developed in cooperation with 24/7 Media, Inc., a U.S. Internet advertising firm. Through its wholly-owned subsidiary, The Web Connection, China.com offers corporate Internet strategy and development services to businesses seeking to explore online business opportunities. China.com's shares will be listed on NASDAQ under the symbol CHINA. A registration statement relating to these securities was declared effective on July 12, 1999 by the Securities and Exchange Commission. This announcement shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful under the securities laws of any such state or other jurisdiction. Copies of the final prospectus Final Prospectus A legal document stating the price of a newly issued security, the delivery date, and other facts that are important for investors. Notes: The final prospectus must be given to every investor who purchases a new issue of registered securities. relating to the offering may be obtained from Lehman Brothers Inc., 3 World Financial Center, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , New York 10285 (Telephone 212/526-7000). |
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