New DoCoMo Issue Sets Japan Record
Compiled by Our Staff From Dispatches AP, Reuters Tuesday, February 6, 2001
TOKYO NTT DoCoMo Inc. said Monday it had issued $7.14 billion worth of new
shares for sale to the public - a bet by the mobile phone giant that
investors would embrace its worldwide ambitions.
.
DoCoMo placed 400,000 shares with investment houses at 2.066 million yen
($17,862) each - the biggest offering ever by a listed Japanese company. The
price was 3 percent below the stock's close on Monday. More stock was sold
to European and U.S. investors than planned after DoCoMo received orders in
excess of three times the shares available.
.
The sale was seen as a referendum on the mobile phone industry's plans to
invest billions of dollars in high-speed networks that link handsets to the
Internet. DoCoMo plans to start operating the world's first so-called
third-generation, or 3G, network in Japan in May and has struck alliances
around the world to sell the service.
remainder of article available at http://www.iht.com/articles/9752.html
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Received on Wed Feb 7 10:11:34 2001