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Internet & IT
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2000-03-16 07:58:00-05
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US Internet Company to list in Asia
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MyWeb, offering TV-based Internet access, plans mid-year Asian stock offering, hoping to raise $20-$40 mio.
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Following its new listing on the American Stock Exchange, MyWeb Inc.com (MWB) plans to move forward with a new offering on an Asian stock market according to co founder and director, Danny Toe. MyWeb switched its shares from over-the-counter to Amex just this week. MyWeb offers television-based Internet access in China and other Asian countries. By listing on an Asian exchange, it hopes to raise its regional profile and in the process raise $20 to $40 million. The company hopes to benefit from the Internet craze which has recently infected Asian markets, most notably, Hong Kong and Singapore. MyWeb decided to list on the AMEX to get the attention of institutional investors. Toe also mentioned that he felt the Nasdaq exchange was too crowded and the waitinh line is too long. The company will use the new capital infusion to expand its product offerings and strengthen its business in new markets like Thailand.
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