業績較分析員預期差。原本預期恒隆盈利為七億元，淘大盈利為八億五千萬元至八億八千七百萬元。
The results were below analysts' forecast of HK$700 million for Hang Lung and HK$850 million to HK$887 million for Amoy.
經常性開支overheads
電訊盈科今年首六個月業績轉虧為盈，錄得九億三千五百萬元純利，較預期理想。
Pacific Century Cyberworks returned to the black with a better-than-expected net profit of $935 million in the first six months of the year.
撤回較早前對下半年的盈利預測backed away from its previous forecasts for the second half of the year
增加股息raise the dividend
調低二零零一年的盈利預測cut its 2001 earnings outlook
整體壞帳撥備為二十億七千萬美元，較去年減少百分之二十一點四。
Overall provisions for bad debts fell 21.4 per cent to US$2.07 billion.
營業額turnover
聯想個人計算機在中國的市場占有率Legend's share of China's PC market
雖然盈利較預期為佳，但聯想集團股價仍下挫一毫，相當于百分之一點五五，以六點三五元收市。
However， shares in Legend eased 1.55 per cent， or 10 HK cents， to finish at HK$6.35 yesterday， despite the better than expected earnings.
（Tom.com）計劃在創業板上市，集資七億六千萬元。
It plans to raise $760 million by listing on the Growth Enterprise Market.
BNP百富勤BNP Prime Peregrine
上周長城汽車集資時，投資者要四處奔波來回各家銀行分行找申請表。今次希望不會重蹈覆轍。
It is hoping to prevent a repeat of scenes last week， when investors were forced to scurry from one bank branch to another in search of applications for the stock offering by mainland car maker Great Wall Automobile Holding.
大力推銷新股aggressively pitch the offering
大部分人認購Tom.com的原因是，李嘉誠任主席的長實和和黃，持有Tom.com股權百分之五十七。
Most of the interest in Tom.com is generated by the fact that it is 57 per cent-owned by Cheung Kong （Holdings） and Hutchison Whampao， which are chaired by Mr. Li.
大部分分析員都預期電盈會把全部收益用作償還債務。
Most analysts had expected PCCW would use the entire proceeds to repay the company's debts.
不知道和黃何時會配售股份the lack of information about when Hutchison would make the placement
中國人保甫上市就勁升百分之五十，刺激大量投資者認購新股，期望輕易地在極短時間內獲得可觀利潤。
A 50 per cent jump in the share price of fellow insurer PICC Property & Casualty on its trading debut last month has unleashed huge public interest in new offerings， with investors betting on rapid price appreciation and easy profits.
中國人壽首次公開招股，集資三十億美元。為應付龐大需求，有關方面共印制了數以百萬份申請表，足夠三分一的香港人使用。
China Life Insurance is printing millions of application forms - enough for one in every three people in Hong Kong - to meet the expected huge demand for its up to US$3 billion initial public offering.
中國網通會以每股5.9元的作價向電盈購買13.4億股新股，作價對比電盈的周三收市價有25.5%的溢價。
China Netcom Group will pay $5.90 per share， a 25.5 per cent premium to PCCW Wednesday closing price， to acquire 1.34 billion new shares in the Hong Kong company.
五年可換股債券five-year convertible bond issue
分配超過一半的領匯基金單位予散戶make more than 50 per cent of the units in the Link Reit available to retail investors
分期償還債務amortisation
反應冷淡lukewarm
他（蘇澤光）表示上市會為公司帶來新的集資途徑。
He said a stock-market listing would give the corporation a new source of financing.
出售新紀元廣場套現近六十億港元/出售新紀元廣場進帳近六十億港元realised almost HK$6 billion through the sale of Grand Milleninium Plaza
包銷五百三十億美元供股股份underwrite a US$530 million rights issue
可換股債券convertible bonds
可獲全數分配would get all the units they subscribed for
市場人士原預期領匯股價會在上市首日升百分之十。
Market-watchers had forecast the Link's share price would rise up to 10 per cent on its debut.
本月較早前，恒基地產成功配股集資二十九億八千萬元。
Early this month， property developer Henderson Land Development completed a $2.98 billion placement.
本來只有10%的新股分配給散戶。
Originally， only 10 per cent of the IPO had been earmarked for ordinary investors.
由于有回撥機制，若然公眾的需求夠大，散戶會分得更多比例。
Clawback clauses mean that if the demand from the public is strong enough， retail investors will receive a much higher proportion.
由于投資者反應熱烈，故必須以上限價定價，同時這亦能平息政府賤賣資產的批評。
The pricing had to be at the top end， given the overwhelming response from investors and also to pacify critics accusing the government of selling the assets too cheaply.
申請表和招股書可于五十三家銀行分行索取。
Forms and prospectuses will be available at 53 bank branches.
申請認購（盈富）
applied for their allocation
申請認購Tom.com股票apply for shares in Tom.com
交申請表deposit applications
全球第三大上市融資的市場the world's third largest capital-raising market
再融資refinancing
印備了數以百萬份的申請表格，并保證每名散戶都獲發至少一手股票。
Millions of application forms were printed for retail investors and an allocation was made to everyone who requested shares.
向投資者配售新股placed new shares to investors
地鐵公開招股昨日中午截止申請，共接獲五十二萬份申請表格。
More than 520，000 applications for shares in the MTR Corporation were returned by the midday deadline yesterday.
地鐵股票將于周日定價，并于十月五日開始交易。
The MTRC shares will be priced on Sunday and start trading on October 5.
地鐵發行一億股，相當于其市值的百分之二十。每股作價8元至9.38元，共可集資80億元至93.8億元。
One billion shares， accounting for 20 per cent of the corporation's equity， will go on sale at between $8 and $9.38， with the aim of raising $8 billion to $9.38 billion.
在旺角，人龍一度長達五萬人，繞著亞皆老街、上海街、窩打老道和砵蘭街打蛇餅。
At one point in Mongkok， a queue of 50，000 snaked along Argyle Street， Shanghai Street， Waterloo Road and Portland Street.？？？
在國際資本市場發行債券/發債issuing bonds on the world's capital markets
成為電盈的第二大股東become PCCW's second-largest shareholder
有跡象顯示首次公開招股的熱潮正在減退。
There are signs that our enthusiasm for IPOs is waning.
行使可換股債券exercising the convertibles
估計是次招股超額認購達一千五百倍。
It was estimated the shares would be 1，500 times oversubscribed.
作價比昨日最后交易價的八月七角折讓百分之二十三。
The proposed price represented a 23 per cent discount to the yesterday's last traded price of $8.70， the source said.
我們對地鐵招股過程信心十足。
We are confident the MTRC issue will go well.？？？
批評集中于只配售百分之十的新股予散戶。
Criticism has focused on the setting aside of only 10 per cent of the units for retail investors.
投資者越來越懷疑電訊盈科的還債能力。
Investors have become increasingly sceptical about CyberWorks' ability to service its debt.
李嘉誠旗下的Tom.com昨日公開招股，在一片網股熱潮下，數以十萬計的市民在銀行同門外大排長龍，渴望分一杯羹。
Hundreds of thousands of people queued outside banks yesterday hoping to cash in on the Internet mania generated by the offer of shares in Li Ka Shing's Tom.com venture.
李澤楷仍是電盈的最大股東，但他的持股量已攤薄至大約25%. Richard Li Tzar-kai remains PCCW's largest shareholders but his interest in the company will be diluted to about 25 per cent.
每手50股，投資者最多要付5，263.30元。
For a 50-share board lot， an investor will pay a maximum price of $5，263.30.
每名投資者最少可獲得一手（500個）基金單位。
Individual investors will each receive at least one board lot of 500 units.
每供一股送兩股認股證，行使價七元五角。
Two warrants will be attached to each share with an exercise price of HK$7.50.
私人注入十億三千萬美元到公司injected up to US$1.03 billion of his own funds into the company
并不急于出售固網業務（套現）
was in no rush to sell its telecoms assets
招股定價issue pricing
招股書prospectus
招股價flotation price
招股價下限和每股資產凈值相若。
The bottom of the range is close to the company's net asset value.
放棄發行十年券集資計劃，計劃原可為公司集資二十五億美元abandon plans to raise US$2.5 billion by selling 10-year bonds
于二千年十月五日在香港上市was listed on Hong Kong's stock exchange on October 5， 2000
直至昨日仍未能得知抽中/獲派多少股were still in the dark until yesterday as to how many shares they had received
花旗環球金融亞洲區主席梁伯韜Francis Leung Pak-to， chief of Citigroup Global Markets （Asia）
長期持有股票獲派的紅股loyalty bonus shares
宣布供股四供一announce a one-for-four rights issue
持有現金六十億元has HK$6 billion in cash on hand
政府明益大商家的另一例子another example of the government pandering to big business
政府首個私營化上市的公共事業the first share offering in a government-owned utility
是次公開招股是本年全球最大型的招股活動，將于周四截止申請。
The IPO， the biggest in the world this year， opens today and closes at midday on Thursday.
為求減債aimed at cutting debts
盈動自從在八月十七日和電訊合并后，股價已大幅下挫近百分之六十。要發行股票集資也不容易。
CyberWorks' share price has collapsed almost 60 per cent since it took over Cable & Wireless HKT on August 17. It also had difficulty obtaining equity financing.
盈富基金昨日開始公開認購，大批市民輪候長達兩小時，購買總值十億元的官股。
Applications for the Government's tracker fund opened yesterday， with dozens of people waiting up to two hours to seek a share of the $10 billion offer.
科技股熱潮達高峰時at the height of the frenzy over Internet stocks
計劃在九月廿六日于主板上市plans to list on the main board on September 26
負債高having a high debt level
負債率高的盈科數碼動力highly indebted Pacific Century CyberWorks
套現四百八十七億美元cashed in US$487 million
根據昨天公布的集資計劃，每一千股電盈要供三十股 ，供股價為六元五角一股，和上周五收市價相同。
Under the terms of financing announced yesterday， CyberWorks will issue three shares for every 100 existing shares to shareholders at HK$6.50 each， equivalent to the counter's last closing price on Friday.
消除對公司財政狀況的揣測clear up uncertainties about our finances
財務安排the financial arrangement
配股stock placement
配股包銷商underwriter of the placement
配股價為九角，較Vanda當日的收市價一元五角二分折讓達40.78%. The placement price of 90 cents was a 40.78 per cent discount to Vanda's $1.52 close that day.
動用所有余錢認購該股use all my available cash to apply for the placement of the stock
基于回撥基制，公開認購比例將自動提升至50%. The retail portion will be automatically increased to 50 per cent through a clawback mechanism.
將地下鐵路公司部分股分以公開招股形式上市listing a minority stake in the MTRC on the stock market
將會有越來越多的內地公司在香港上市。
There will be more and more mainland firms listing in Hong Kong.
最有可能是五供二，每股作價六月七角。
But the most likely option will be a two-for-five rights issue and the shares are likely to be priced at $6.70 each.
尋找資金look for sources of capital
散戶有3%的折扣優惠，即每單位基金只須付10.51元。
Retail investors will receive a 3 per cent discount， meaning they will pay $10.51 per unit.
散戶將獲分配56.5%的領匯基金單位。
Retail subscribers to the Link Reit will now receive 56.5 per cent of the total offering.
無法取得資金can't get access to capital
發行/出售3500萬股新股issue up to 35 million shares
發行四億二千八百萬股，其中百分之十公開認購，每股作價1.78元offered 10 per cent of 428 million shares to the public at $1.78 each
發行為期五年可換股債券，總值十一億美元issue five-year convertibles worth US$1.1 billion
發行新股issuing new shares
發行新股后導致利潤攤薄the dilution of earnings arising from the share sale
發行新股集資八十三億元應急raised a much-needed $8.3 billion from an issue of new equity
買下所有供股股份take up all the rights issue
超額認講六百六十九倍was 669 times over-subscribed
超額認購oversubscribed
超額認購1.6倍was about 2.6 times subscribed
超額認購很多倍massively oversubscribed
開始公開招股launched its retail offer
集資raise capital/raise finance
集資活動capital-raising exercise
集資能力capital-raising abilities
集團短期內會出售更多物業。
The group will sell more properties in the near future.
債券息率介乎三厘至三點五厘，換股價介乎電盈上周五收市價百分之二十一至二十六。
The notes will carry a coupon rate of between 3 per cent and 3.5 per cent and a conversion price set in a range of 21 per cent to 26 per cent to CyberWorks' closing price.
新世界發展見市場景氣，趁機發行新股集資十二億五千萬元，償還舊債。
New World Development （NWD） is tapping a rising stock market for $1.25 billion to repay debt by issuing new shares.
新股每股上限價為103元。
The issue will carry a maximum price of $103 a share.
新股每股作價五元正，較昨日收市價折讓百分之七點四。
The new shares are priced at $5 each， a 7.4 per cent discount to yesterday's close of $5.40.
新股的每手股數為50股offer its shares in board lots of 50
新意網每手五百股，連經紀費在內，買一手要5，242元。
The lowest order for Sunevision is 500 shares at $5，242， including broker fees.
新意網是新鴻基地產屬下的科技公司，招股價定于上限的10.38元，遠比Tom.com高。Tom.com招股價為1.78元，昨日收市報12元。
Sunevision， the new technology arm of Sun Hung Kai Properties， capped the initial offers at $10.38 a share， substantially higher than Tom.com's， which was initially priced at $1.78 and closed at $12 yesterday.
會包銷無人供的股份will underwrite the unsubscribed rights issue
會在十二月十六日如期上市。
The listing would go ahead as scheduled on December 16.
該公司在十月發行二億五千萬股新股，每股作價五元，用以償還債項。
In October， the firm raised $1.25 billion by issuing 250 million new shares at $5 each to repay debt.
該批股票占電盈已發行股本的24.93%. The shares represent 24.93 per cent of PCCW's issued share capital.
電盈在如此短時間內配股集資八億美元，股價難免受壓，但對長期投資者而言這正是趁低吸納的大好時機。
With a US$800 million share placement in such a short time， it is not a surprise that PCCW shares would be under pressure， but at the current price it would be a good buy for long-term investors.
電盈表示希望藉供股集資五億三千萬美元。
CyberWorks said it aimed to raise US$530 million through the rights issue.
電盈昨日急跌百分之十點三至4.35元，跌破4.4元的配股價。
PCCW stock yesterday fell 10.3 per cent to HK$4.35 compared with the placement price of $4.40.
認股證warrants； Warrants are items of financial value that allow the owner to apply for the ordinary shares of a company at a fixed price on a fixed date.
認股權發行rights issue/cash call
領匯昨日定價每單位10.83元，是意向價格（10.51元-10.83元）的上限價。
The issue was priced yesterday at $10.83 per unit， the top of the indicative price range of $10.51 to $10.83.
撥百分之十的新股股份供散戶認購ear-marking 10 per cent of the float for small investors
賤賣港人資產selling off Hong Kong's assets too cheaply
盡量降低招股時的入場費keeping down the total cost of making a minimum investment in the float
機構投資者和小投資者的反應良好the response from institutional and retail investors for the bonds had been good
機構投資者對招股反應冷淡international investors cold-shouldered the issue
燒光銀紙/用盡了創業資本burning through their venture-capital cash
獲分配1，500股領匯股票has been allotted 1，500 shares in the Link Real Estate Investment Trust
獲百分之百的配股were awarded 100 per cent of the shares they asked for
還債能力debt payback ability
繼續出售項目來套現減債continue to realise more cash from the sale of assets to reduce its debt burden
九龍倉集團有限公司（0004）
The Wharf （Holdings） Ltd.
中信泰富有限公司（0267）
CITIC Pacific Ltd.
中國海洋石油有限公司（0883）
CNOOC Ltd.
中國移動（香港）有限公司（0941）
China Mobile （Hong Kong） Ltd.
中國聯通股份有限公司（0762）
China Unicom Ltd.