Global Crossing in Far East venture
with its subsidiary Asia Global Crossings.
A filing with the Securities and Exchange Commission on Tuesday listed Chase H&Q, CIBC World Markets, Credit Suisse First Boston, Deutche Banc Alex Brown, Lehman Brothers and ABN Amro Rothschild as underwriters for an initial public offering by Asia Global Crossing Ltd.
They are joining Goldman Sachs and Salomon Smith Barney, who are the joint book-running managers, and Merrill Lynch, the lead manager.
Asia Global Crossing is offering 53 million class A common shares in a range of $14-$16 a share. It has applied for a Nasdaq listing under the symbol AGCX.
The company, in conjunction with the IPO, is also offering senior notes due 2010 that could net $400 million in proceeds. The stock offering is not conditioned on the debt offering.
Asia Global Crossings intends to be a pan-Asian telecommunications carrier providing Internet, data, voice and Web-hosting services to wholesale and business customers.
Formed in November 1999 the company is a joint venture among Global Crossing, Microsoft Corp. and Softbank Corp.
Global Crossing has a 57.5 percent stake while Microsoft and Softbank each has a 15.8 percent position, according to the SEC filing.