Asiatravel to list shares

Asiatravel to list shares

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.