Hamilton, Bermuda: 31 March 2000-Asia Global Crossing today announced its intention to make an initial public offering of shares of its common stock and to file a registration statement under the U.S. Securities Act of 1933, as amended, in respect of the proposed offering.
Asia Global Crossing is a joint venture among Global Crossing (Nasdaq:GBLX ), Softbank (Tokyo Stock Exchange:9984), and Microsoft(Nasdaq:MSFT).
Asia Global Crossing intends to use the net proceeds from the offering primarily to make additional capital investments in its operations and for general corporate purposes.
Asia Global Crossing anticipates that the offering will be completed this summer, subject to market conditions.
The offering will be made only by means of a prospectus contained in such registration statement as filed with the U.S. Securities and
Exchange Commission.