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-end solution for B2B e-commerce comprises Global Sources Online, private electronic catalog tools for buyers and suppliers, Global Sources Connect electronic messaging, and Global Sources Transact web-based order management software. More than 195,000 active buyers and 83,000 suppliers, as of March 2000, rely on Global Sources services. Global Sources customers include the world's biggest names in import and export including PREL (the Asian buying office for Wal*Mart), Kmart, the Home Depot, Gemex (the buying office for Europe's biggest general merchandise retailer Metro AG), Kingfisher, Dell, Compaq, Sony and Canon. Global Sources (Nasdaq: GSOL) is a world leading infomediary and neutral B2B market makers for volume buyers and suppliers worldwide. Global Sources has been operating in Asia and worldwide for 30 years and has developed one of the world's most comprehensive databases of export products and suppliers. Global Sources is a B2B e-commerce provider offering a web-based "end-to-end" e-commerce solution which enables its buyer community to interface electronically with suppliers in all phases of the supply chain management process in all corners of the world. Its e-commerce services are tailored for eight industry-specific verticals that include Computer Products, Electronic Components, Consumer Electronics, Timepieces, Gifts and Home Products, Fashion Accessories, Telecom Products and Hardware.Global Sources community currently includes over 195,000 active buyers who are able to locate over 83,000 supplier contacts from more than 90 countries and source over 80,000 products per day, with detailed specifications and color images. Global Sources Online generated 180,292 Requests for Information (RFIs) from buyers to suppliers in March 2000. User sessions were recorded at 967,168 and the number of hits totaled 38,075,189 in the same month. This news release contains forward-looking statements within the meaning of Section 27-A of the Securities Act of 1933, as amended and Section 21-E of the Securities Exchange Act of 1934, as amended. The Company's actual results could differ materially from those set forth in the forward-looking statements as a result of the risks associated with the Company's business, changes in general economic conditions, and changes in the assumptions used in making such forward-looking statements. SOURCE Global Sources Ltd. /CONTACT: Camellia So of Global Sources, +852-2555-5042, or fax, +852-2518-8764, or email@example.com /
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Rat