PCCW to unveil JV/placement-HK exchange
HONG KONG, Jan 25 (Reuters) - Pacific Century CyberWorks Ltd (PCCW) requested its shares be suspended pending its announcement of a share placement and joint venture, the Stock Exchange of Hong Kong said on Tuesday.
It gave no details but brokers said PCCW would announce a share placement at HK$15.8 per share to raise up to HK$2.9 billion to finance a joint venture with U.S. Internet company CMGI (NasdaqNM:CMGI - news).
HONG KONG, Jan 25 (Reuters) - Pacific Century CyberWorks Ltd (PCCW) requested its shares be suspended pending its announcement of a share placement and joint venture, the Stock Exchange of Hong Kong said on Tuesday.
It gave no details but brokers said PCCW would announce a share placement at HK$15.8 per share to raise up to HK$2.9 billion to finance a joint venture with U.S. Internet company CMGI (NasdaqNM:CMGI - news).
