Hong Kong, February 8, 2000
Successful NASDAQ Launch Named "Asia-Pacific IPO of the Year", "Best IPO" and "Best Equity Issue in Hong Kong"
— chinadotcom corporation (NASDAQ: CHINA) announced today that it had won three more distinctive awards in addition to the recently won FIA awards for its July 12, 1999 Initial Public Offering (IPO) which raised US$96.9 million in capital. chinadotcom corporation's launch on NASDAQ as Asia's leading integrated Internet company received Asia-Pacific's Initial Public Offering of the Year in International Financing Review's (IFR) prestigious ECM Awards. chinadotcom corporation also won Best Initial Public Offering and Best Equity Issue in Hong Kong by top international financial reviews, Asset Asian Awards Triple A 2000 (AAA) and International Equity Review, respectively.
The selection process of the EMC Award began in October last year with a comprehensive round of interviews conducted by IFR reporters with hundreds of market participants, including capital market professionals and analysts. Further rounds of elimination were then conducted based on the judgement of key industry treasurers and institutional investors before a shortlist in each award category was drawn up. A panel of judges, made up of the senior IFR editorial team, then selected the final award recipient.
Mr. Peter Yip, chinadotcom corporation's Chief Executive Officer, said, "We are very honored to be recognized by some of the financial industry's leading experts. These awards are further proof that our business strategy, which is based on our unique business model 'Build, Distribute, Sell', is a true success and is highly regarded by the financial community as an innovative model that works."
Recently, chinadotcom corporation also recently completed its second public offering with gross proceeds of more than US$400 million. chinadotcom corporation intends to use the proceeds for capital expenditures consisting primarily of additions to networking and computer infrastructure and to expand sales and marketing operations.
chinadotcom corporation's acquisition and expansion strategy is based on three types of investments, which incubates new start-ups through its Jump Start Programme; accelerates the growth of online services of
existing business; and partners with established Internet companies to accelerate their entry and expansion into the Asia market.
Mr. Yip continued, "A significant percentage of our growth plan revolves around our strategic investment strategy that aims to further enhance our integrated Internet business. We invest in companies that enable us to strengthen our e-Business solutions, online advertising and portal networks as one of the leading Internet companies in Asia."
About chinadotcom corporation
chinadotcom corporation is the first pan-Asian integrated Internet company listed in the United States (NASDAQ: CHINA). The company provides a full range of Internet services that; 1) build e-business strategies and solutions (Web Connection), 2) distribute content via its portal network (china.com, cww.com, hongkong.com, and taiwan.com), and 3) sell services through online advertising (24/7 Media Asia). chinadotcom corporation is committed to enabling digital communities to realize their full potential, thereby facilitating the development of the Internet in China and across Asia. The company has over 900 employees in 21 offices across 10 Asian markets, including Australia, Hong Kong, Japan, Korea, Malaysia, Singapore, and Taiwan. In Mainland China, the company has nine offices and over 300 employees. Major corporate shareholders include America Online Inc., Mitsui & Co. Ltd., Nortel Network Corporation, Sun Microsystems Inc., New World Infrastructure Limited and 24/7 Media Inc. For more information about chinadotcom corporation, please visit www.corp.china.com.
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