Hansol PCS Concludes Successful Public Offering.MONTREAL--(BUSINESS WIRE)--Nov. 26, 1999-- (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 :BCICF) (ME:BI.) (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :BI.) 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 ") today announced that its Korean PCS service provider, Hansol PCS, is issuing 15.7 million new common shares to the public at the initial price of KRW KRW In currencies, this is the abbreviation for the Korean Won. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 23,000 (or Cdn$28.82) per share. BCI made its initial investment in Hansol PCS in September of 1998 and holds 32,867,454 shares purchased at an average price of KRW 7,542 (or Cdn$9.10) per share. The increase in the number of issued Hansol PCS common shares will result in a reduction of BCI's interest from 23.30 % to 20.97 %, while allowing BCI to record a dilution gain of approximately Cdn $65 million. Proceeds from 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. in the amount of KRW 361 billion (Cdn$452 million) will be used by Hansol PCS for general corporate purposes and the repayment of debt. It is expected that the subscription for Hansol's shares will close on December 6th; and that Hansol PCS shares will begin trading on the Korean KOSDAQ KOSDAQ Korean Securities Dealers Automated Quotations exchange on December 23rd, subject to final regulatory approvals. Hansol PCS is a fast growing provider of mobile voice and data services in Korea, with a subscriber base exceeding 2.6 million customers. Bell Canada International is in the business of building and developing world-class communications companies in markets outside Canada, with a focus on Latin America and the Asia-Pacific region. A subsidiary of BCE Inc., Canada's largest communications company, BCI is listed on the Montreal and Toronto stock exchanges under the symbol BI, and on the NASDAQ national market under the symbol BCICF. |
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