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| Asia Global Crossing Ltd. |
| Wessex House 45 Reid Street, Hamilton, Bermuda HM12 * 4412968600 |
| Business Description | The Company intends to be the first pan-Asian telecommunications carrier to provide integrated Internet, data, voice and Web-hosting services to wholesale and business customers. |
| Offering Information Company has | |||
| Trading As | AGCX (NASNTL) | Industry | Telecommunications (SIC 4813) |
| Type of Stock Offered | Class A Common Shares | Filing Date | 5/23/00 |
| Domestic Shares Offered | 68,000,000 | Offer Date | 10/5/00 |
| Foreign Shares Offered | 0 | Filing Range | $9.00 - $11.00 |
| Company Shares | 68,000,000 | Offer Price | $7.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | - - |
| Gross Proceeds | $476,000,000 | Selling | - - |
| Expenses | - - | Reallowance | - - |
| Post-IPO Shares | 548,800,000 | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Goldman, Sachs & Co. | Lead Manager | (212) 902-5959 |
| ABN Amro Roth | Co-manager | (212) 314-1080 |
| Chase H&Q; | Co-manager | (415) 439-3626 |
| CIBC World Markets | Co-manager | (212) 667-7400 |
| CS First Boston | Co-manager | (212) 325-2000 |
| Deutsch Banc Alex. Brown | Co-manager | (410) 727-1700 |
| Lehman Brothers Incorporated | Co-manager | (212) 526-8100 |
| Merrill Lynch & Co. | Co-manager | (212) 449-4600 |
| Salomon Smith Barney | Co-manager | (212) 723-7300 |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | 3 Months Ending | ||||||
| Figures in U.S. millions except per share data | 12/31/98 | 12/31/99 | 3/31/99 | 3/31/00 | |||
| Revenues | - | - | - | 0.000 | 0.000 | 0.000 | 75.804 |
| Income from Oper. | - | - | - | 0.000 | -1.201 | 0.000 | 22.273 |
| Net Income | - | - | - | 2.867 | 20.290 | 1.349 | 14.336 |
| E.P.S | - | - | - | 2.390 | 16.910 | 1.120 | 11.950 |
| Revenue Growth (%) | - | - | - | - | - | ||
| Net Income Growth (%) | - | - | - | 607.71 | 962.71 | ||
| Oper. Profit Margin (%) | - | - | - | - | - | 29.38 | - |
| Net Profit Margin (%) | - | - | - | - | - | 18.91 | - |
| Cash Flow - Oper. | 22.05 | 2.86 | 38.94 | ||||
| Cash Flow - Inv. | -90.65 | -0.02 | -177.22 | ||||
| Cash Flow - Fin. | 73.01 | - | 334.62 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 3/31/00 | Financial Ratios | ||||
| Total Assets | 1,863.22 | Current Assets | 384.83 | Current Ratio | 2.83 |
| Total Liab. | 0.00 | Current Liab. | 135.99 | Debt Ratio | - |
| Total Equity | 1,863.22 | Working Cap. | 248.84 | Debt to Equity Ratio | - |
| Cash | 207.51 | Return on Assets | 0.77% | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used to build our network; to make investments in telecommunications and Internet companies and related businesses; to repay outstanding indebtedness under shareholder loans or third party debt financing; to purchase from Global Crossing shareholder loans it made to HGC and GAL; and for general corporate purposes. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Simpson, Thacher & Bartlett |
| Bank's Law Firm | Sullivan & Cromwell |
| Auditor | Arthur Andersen |
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| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| SOFTBANK Corp. | ||
| Microsoft Corporation | ||
| Global Crossing Ltd. | ||
| Note: represents ownership of 5% or more prior to the offering. | ||