Internet firm goes public

Internet firm goes public

SINGAPORE (Dow Jones): Singapore electronic-commerce services
company i-One.Net Ltd. issued 160.2 million new shares Wednesday
at 38 Singapore cents (US$1=S$1.7107) in its initial public
offering.

The company's offer comprises 124.5 million placement shares
for institutional investors, including up to 13.2 million shares
reserved for employees and business associates, and 35.6 million
shares for retail investors.

i-One.Net, which provides network services for companies
engaged in e-commerce, said its IPO represents 35 percent of its
enlarged share capital of 462 million shares.

The offer will close June 24, and i-One.Net shares are
expected to begin trading on the Stock Exchange of Singapore's
main board on June 28.

The company plans to raise S$46.2 million in net proceeds.