Asiatravel to list shares

Fri, 23 Mar 2001 | Source: DJ

SINGAPORE (Dow Jones): Asiatravel.com, an Internet hotel and travel reservations company, Thursday said it has received in- principle approval to list on the junior board of the Singapore Exchange.

The Singapore-based company announced in a separate press statement it has issued a 12 percent stake to cable television company STAR Group Ltd., a wholly owned unit of Australian media company News Corp.

In return, STAR has issued a 12 percent stake in its unit, STAR-Travel.com Ltd., to Asiatravel.com, the statement said. Asiatravel.com's partnership with STAR-Travel.com will focus on the development of multimedia travel content.

Asiatravel provides technical infrastructure support to STAR- Travel, a multimedia online travel guide.

Asiatravel.com handles online services and products in airticketing, sightseeing, ground handling and transfer.

It also offers online hotel reservations for about 2,000 hotels in 22 countries across Asia Pacific.

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