Pacific Century CyberWorks subsidiary iLink.net is pushing ahead with its listing plan, hoping to raise up to HK$140 million early next month. Sources close to issue joint sponsors BNP Paribas Peregrine and e2-Capital Securities said yesterday the share sale of server host iLink.net would be conducted online through a newly designed system Open Investor/Broker Network (Open IBN). Developed by e2-Capital, Open IBN is a mutual platform which enables communication among investors, brokers and placing agents and facilitates the process of fund-raising exercises such as share placements and initial public offerings. ILink.net is expected to be the first listing candidate to employ the system for its share offering. Sources said iLink.net would debut on March 9 on the Growth Enterprise Market. The company is expected to launch its share offering on February 26 by issuing 110 million new shares. The shares will be sold only by private placement. The sale price will be between HK$1.10 and HK$1.28 per share, to be fixed on March 1. The proceeds, ranging between HK$121 million and HK$140.8 million, are expected to be spent on the development of data centres in Asia including Shenzhen and Taiwan. ILink.net indicated last October that it planned to invest about HK$700 million in opening seven server-hosting centres in Asia. It directly competes with CyberWorks' other data centre subsidiary Powerb@se and Sunevision Holdings' subsidiary IAdvantage, which are aggressively expanding across the region. Upon the listing, CyberWorks will hold 47.9 per cent of iLink.net.
