13:21 PCCW's (1186) placement received more than 5X oversubscription
(Infocast News) A source near BNP Peregrine said that PCCW (1186) had completed the work for placement by 12:30 pm. and had received more than 5X oversubscription.
The company launched a top-up placement of 250 million new shares at $23.5 each, a 5% discount to the close before suspension last Friday, to raise $5.875 billion. BOCI, Warburg Dillon Read and BNP Prime Peregrine will be the underwriters. PCCW has the greenshoe of 85 million shares to further raise $1.997 billion. The proceeds will be $7.782 billion in total.
www.infocast-mdf.com/cgi-bin/...ews/02-14-2000-0-13234eng.html
(14/02/00)