Public Listing of Asia Global Crossing Ltd.
On October 6, Asia Global Crossing Ltd. (AGC below; main office in Hamilton, Bermuda; John J. Legere, CEO), a company in which SOFTBANK CORP. is an equity participant, was listed on the NASDAQ Exchange in the United States. The company’s trading code is AGCX.
The public offering price of AGC shares was US$7.00. The share started its first day of trading at US$7.00, and closed at US$7.375. Trading volume amounted to 17,197,400 shares. At the listing of the company, SOFTBANK CORP. owned a total of 85,500,000 shares in AGC (equity ratio of 15.42% at time of listing). The value of SOFTBANK CORP.’s investment in AGC amounted to approximately US$339 million. The market value of SOFTBANK CORP.’s holdings of AGC shares, based on the closing price on the first day of trading, amounted to approximately US$630 million (approximately 68.5 billion yen, based on an exchange rate of US$1=108.75-85 yen [New York forex, October 6]).
Outline of Asia Global Crossing Ltd.
| 1. Company name | Asia Global Crossing Ltd. |
|---|---|
| 2. Address | Hamilton, Bermuda |
| 3. Date established | November 24, 1999 |
| 4. Representative Officer | John J. Legere (Chief Executive Officer and Director) |
| 5. Business content | Providing a wide range of communications and IP-related services in the Asia-Pacific region, including network transport services (connecting services for dedicated international lines, IP, etc.), data center, and web hosting. |
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