The options Chang converted represented 2.3 percent of all the share options granted to Tom.com employees. Shares in Tom.com, owned by billionaire Li Ka-shing, rose to HK$7.75 (US$0.99) in its first days of trading, lifted by Internet hype and perceptions that all Li's projects succeed. The stock last traded at HK$2.05 (US$0.26) and is one of a few companies listed on Hong Kong's Growth Enterprise Market still trading above its issue price.
Chang only Tom.com director to exercise options
By Bloomberg, Singapore.CNET.com
Monday, April 16, 2001 01:15 PM
Monday, April 16, 2001 01:15 PM
HONG KONG--Only one Tom.com Ltd director used share options in 2000 as the Internet site operator's shares dived in value. Carl Chang, who left the company in July last year, exercised 6.05 million shares at Tom.com's initial public offering price of HK$1.78 ($0.23), while allowing another 24.2 million options to lapse, the South China Morning Post reported, citing the company's annual report.
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