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|Subject: Global Sources Closes Tuesday on Nasdaq at US$38||Date: 4/19/2000 8:37 PM|
|Author: dascom2000||Number: 25 of 59|
Global Sources Closes Tuesday on Nasdaq at US$38
PR Newswire - April 19, 2000 02:05
HONG KONG, April 19 /PRNewswire/ -- Global Sources Ltd. (Nasdaq: GSOL) became the first Asian based pure B2B
play to trade on the Nasdaq on April 17 under its ticker symbol GSOL. On Tuesday, April 18, its shares closed at US$38, a
43.4% increase compared to Monday's close at US$26-1/2. The company is the leading B2B marketplace and end-to-end
e-commerce provider for global importers and exporters.
"Our Nasdaq listing is a sign of our success to date, and will allow us to fund the next phase of our growth, into new industry
verticals, new geographic markets, and to apply new technologies for our community," said Global Sources Chief Operating
Officer Craig Pepples.
Pepples denied that the recent volatility on the Nasdaq would have an adverse effect on Global Sources' plans. "Nasdaq will
continue to be the primary market for technology investment. Increasingly, however, we expect that the companies that will
succeed will be those with strong fundamentals to match their business plans."
Questioning the long-term validity of a growing number of me-too B2B start-ups, Pepples said, "Global Sources' business and
business model is far beyond any of the start-ups or old economy firms suffering from portal envy. Our community exists, and
has been relying on us for decades. Our end-to-end e-commerce solution is built, and available to trading partners worldwide
on the Internet today. We are a neutral third party with the ability to make truly fair market places. And, not least, our business
is highly profitable."
Global Sources' end-to