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SINA.COM ANNOUNCES INITIAL PUBLIC OFFERING
SINA.com IPO was priced at US$17 per share
SINA.com, a Chinese-focused Internet company announced today that its initial public offering of 4,000,000 ordinary shares was priced at US$17 per share. The shares will be listed on the NASDAQ National Market and are expected to commence trading on April 13, 2000 under the symbol "SINA". Net proceeds of the offering will be used for working capital and other general corporate purposes.Morgan Stanley & Co. Incorporated and China International Capital Corporation Limited are acting as the joint lead managing underwriters for the offering. Morgan Stanley is acting as the sole book-runner for the transaction. Chase Securities Inc. and FleetBoston Robertson Stephens Inc. are acting as co-managers. A copy of the final prospectus related to the offering may be obtained from Morgan Stanley & Co. Incorporated, 1585 Broadway, New York, New York 10036.
A registration statement relating to these securities was filed and declared effective by the U.S. Securities and Exchange Commission. This press release 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 jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities law of such jurisdiction.
About SINA.com
SINA.com is a leading Internet destination network for Chinese communities worldwide, offering on-line news, entertainment, community and commerce. SINA.com offers a Chinese-language network of four localized Web sites that are produced and updated daily by local teams in China, Hong Kong, Taiwan and North America. Voted number one by China Internet users in both the December 1999 and June 1999 semi-annual surveys conducted by the China Internet Network Information Centre, or CNNIC, SINA.com is a popular Internet portal for the world's largest population group. As of February 2000, SINA.com had approximately 16.6 million average daily page views and 3.1 million registered users.
Issued by Beyond Communications Limited on behalf of SINA.com.hk For enquiries, pls. contact:
At SINA.com.hk
Ms. Cindy Lee (cindy@staff.sina.com)
Tel: 2155-8858/ 9194-6416
Fax: 2295-3630
Visit www.sina.com.hk for more information