业绩较分析员预期差。原本预期恒隆盈利为七亿元，淘大盈利为八亿五千万元至八亿八千七百万元。
The results were below analysts' forecast of HK$700 million for Hang Lung and HK$850 million to HK$887 million for Amoy.
经常性开支overheads
电讯盈科今年首六个月业绩转亏为盈，录得九亿三千五百万元纯利，较预期理想。
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.
撤回较早前对下半年的盈利预测backed away from its previous forecasts for the second half of the year
增加股息raise the dividend
调低二零零一年的盈利预测cut its 2001 earnings outlook
整体坏帐拨备为二十亿七千万美元，较去年减少百分之二十一点四。
Overall provisions for bad debts fell 21.4 per cent to US$2.07 billion.
营业额turnover
联想个人计算机在中国的市场占有率Legend's share of China's PC market
虽然盈利较预期为佳，但联想集团股价仍下挫一毫，相当于百分之一点五五，以六点三五元收市。
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）计划在创业板上市，集资七亿六千万元。
It plans to raise $760 million by listing on the Growth Enterprise Market.
BNP百富勤BNP Prime Peregrine
上周长城汽车集资时，投资者要四处奔波来回各家银行分行找申请表。今次希望不会重蹈覆辙。
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.
大力推销新股aggressively pitch the offering
大部分人认购Tom.com的原因是，李嘉诚任主席的长实和和黄，持有Tom.com股权百分之五十七。
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.
大部分分析员都预期电盈会把全部收益用作偿还债务。
Most analysts had expected PCCW would use the entire proceeds to repay the company's debts.
不知道和黄何时会配售股份the lack of information about when Hutchison would make the placement
中国人保甫上市就劲升百分之五十，刺激大量投资者认购新股，期望轻易地在极短时间内获得可观利润。
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.
中国人寿首次公开招股，集资三十亿美元。为应付庞大需求，有关方面共印制了数以百万份申请表，足够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.
中国网通会以每股5.9元的作价向电盈购买13.4亿股新股，作价对比电盈的周三收市价有25.5%的溢价。
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.
五年可换股债券five-year convertible bond issue
分配超过一半的领汇基金单位予散户make more than 50 per cent of the units in the Link Reit available to retail investors
分期偿还债务amortisation
反应冷淡lukewarm
他（苏泽光）表示上市会为公司带来新的集资途径。
He said a stock-market listing would give the corporation a new source of financing.
出售新纪元广场套现近六十亿港元/出售新纪元广场进帐近六十亿港元realised almost HK$6 billion through the sale of Grand Milleninium Plaza
包销五百三十亿美元供股股份underwrite a US$530 million rights issue
可换股债券convertible bonds
可获全数分配would get all the units they subscribed for
市场人士原预期领汇股价会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.
本月较早前，恒基地产成功配股集资二十九亿八千万元。
Early this month， property developer Henderson Land Development completed a $2.98 billion placement.
本来只有10%的新股分配给散户。
Originally， only 10 per cent of the IPO had been earmarked for ordinary investors.
由于有回拨机制，若然公众的需求够大，散户会分得更多比例。
Clawback clauses mean that if the demand from the public is strong enough， retail investors will receive a much higher proportion.
由于投资者反应热烈，故必须以上限价定价，同时这亦能平息政府贱卖资产的批评。
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.
申请表和招股书可于五十三家银行分行索取。
Forms and prospectuses will be available at 53 bank branches.
申请认购（盈富）
applied for their allocation
申请认购Tom.com股票apply for shares in Tom.com
交申请表deposit applications
全球第三大上市融资的市场the world's third largest capital-raising market
再融资refinancing
印备了数以百万份的申请表格，并保证每名散户都获发至少一手股票。
Millions of application forms were printed for retail investors and an allocation was made to everyone who requested shares.
向投资者配售新股placed new shares to investors
地铁公开招股昨日中午截止申请，共接获五十二万份申请表格。
More than 520，000 applications for shares in the MTR Corporation were returned by the midday deadline yesterday.
地铁股票将于周日定价，并于十月五日开始交易。
The MTRC shares will be priced on Sunday and start trading on October 5.
地铁发行一亿股，相当于其市值的百分之二十。每股作价8元至9.38元，共可集资80亿元至93.8亿元。
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，人龙一度长达五万人，绕着亚皆老街、上海街、窝打老道和砵兰街打蛇饼。
At one point in Mongkok， a queue of 50，000 snaked along Argyle Street， Shanghai Street， Waterloo Road and Portland Street.？？？
在国际资本市场发行债券/发债issuing bonds on the world's capital markets
成为电盈的第二大股东become PCCW's second-largest shareholder
有迹象显示首次公开招股的热潮正在减退。
There are signs that our enthusiasm for IPOs is waning.
行使可换股债券exercising the convertibles
估计是次招股超额认购达一千五百倍。
It was estimated the shares would be 1，500 times oversubscribed.
作价比昨日最后交易价的八月七角折让百分之二十三。
The proposed price represented a 23 per cent discount to the yesterday's last traded price of $8.70， the source said.
我们对地铁招股过程信心十足。
We are confident the MTRC issue will go well.？？？
批评集中于只配售百分之十的新股予散户。
Criticism has focused on the setting aside of only 10 per cent of the units for retail investors.
投资者越来越怀疑电讯盈科的还债能力。
Investors have become increasingly sceptical about CyberWorks' ability to service its debt.
李嘉诚旗下的Tom.com昨日公开招股，在一片网股热潮下，数以十万计的市民在银行同门外大排长龙，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.
李泽楷仍是电盈的最大股东，但他的持股量已摊薄至大约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，投资者最多要付5，263.30元。
For a 50-share board lot， an investor will pay a maximum price of $5，263.30.
每名投资者最少可获得一手（500个）基金单位。
Individual investors will each receive at least one board lot of 500 units.
每供一股送两股认股证，行使价七元五角。
Two warrants will be attached to each share with an exercise price of HK$7.50.
私人注入十亿三千万美元到公司injected up to US$1.03 billion of his own funds into the company
并不急于出售固网业务（套现）
was in no rush to sell its telecoms assets
招股定价issue pricing
招股书prospectus
招股价flotation price
招股价下限和每股资产净值相若。
The bottom of the range is close to the company's net asset value.
放弃发行十年券集资计划，计划原可为公司集资二十五亿美元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/获派多少股were still in the dark until yesterday as to how many shares they had received
花旗环球金融亚洲区主席梁伯韬Francis Leung Pak-to， chief of Citigroup Global Markets （Asia）
长期持有股票获派的红股loyalty bonus shares
宣布供股四供一announce a one-for-four rights issue
持有现金六十亿元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
政府首个私营化上市的公共事业the first share offering in a government-owned utility
是次公开招股是本年全球最大型的招股活动，将于周四截止申请。
The IPO， the biggest in the world this year， opens today and closes at midday on Thursday.
为求减债aimed at cutting debts
盈动自从在八月十七日和电讯合并后，股价已大幅下挫近百分之六十。要发行股票集资也不容易。
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.
盈富基金昨日开始公开认购，大批市民轮候长达两小时，购买总值十亿元的官股。
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.
科技股热潮达高峰时at the height of the frenzy over Internet stocks
计划在九月廿六日于主板上市plans to list on the main board on September 26
负债高having a high debt level
负债率高的盈科数码动力highly indebted Pacific Century CyberWorks
套现四百八十七亿美元cashed in US$487 million
根据昨天公布的集资计划，每一千股电盈要供三十股 ，供股价为六元五角一股，和上周五收市价相同。
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.
消除对公司财政状况的揣测clear up uncertainties about our finances
财务安排the financial arrangement
配股stock placement
配股包销商underwriter of the placement
配股价为九角，较Vanda当日的收市价一元五角二分折让达40.78%. The placement price of 90 cents was a 40.78 per cent discount to Vanda's $1.52 close that day.
动用所有余钱认购该股use all my available cash to apply for the placement of the stock
基于回拨基制，公开认购比例将自动提升至50%. The retail portion will be automatically increased to 50 per cent through a clawback mechanism.
将地下铁路公司部分股分以公开招股形式上市listing a minority stake in the MTRC on the stock market
将会有越来越多的内地公司在香港上市。
There will be more and more mainland firms listing in Hong Kong.
最有可能是五供二，每股作价六月七角。
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.
寻找资金look for sources of capital
散户有3%的折扣优惠，即每单位基金只须付10.51元。
Retail investors will receive a 3 per cent discount， meaning they will pay $10.51 per unit.
散户将获分配56.5%的领汇基金单位。
Retail subscribers to the Link Reit will now receive 56.5 per cent of the total offering.
无法取得资金can't get access to capital
发行/出售3500万股新股issue up to 35 million shares
发行四亿二千八百万股，其中百分之十公开认购，每股作价1.78元offered 10 per cent of 428 million shares to the public at $1.78 each
发行为期五年可换股债券，总值十一亿美元issue five-year convertibles worth US$1.1 billion
发行新股issuing new shares
发行新股后导致利润摊薄the dilution of earnings arising from the share sale
发行新股集资八十三亿元应急raised a much-needed $8.3 billion from an issue of new equity
买下所有供股股份take up all the rights issue
超额认讲六百六十九倍was 669 times over-subscribed
超额认购oversubscribed
超额认购1.6倍was about 2.6 times subscribed
超额认购很多倍massively oversubscribed
开始公开招股launched its retail offer
集资raise capital/raise finance
集资活动capital-raising exercise
集资能力capital-raising abilities
集团短期内会出售更多物业。
The group will sell more properties in the near future.
债券息率介乎三厘至三点五厘，换股价介乎电盈上周五收市价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.
新世界发展见市场景气，趁机发行新股集资十二亿五千万元，偿还旧债。
New World Development （NWD） is tapping a rising stock market for $1.25 billion to repay debt by issuing new shares.
新股每股上限价为103元。
The issue will carry a maximum price of $103 a share.
新股每股作价五元正，较昨日收市价折让百分之七点四。
The new shares are priced at $5 each， a 7.4 per cent discount to yesterday's close of $5.40.
新股的每手股数为50股offer its shares in board lots of 50
新意网每手五百股，连经纪费在内，买一手要5，242元。
The lowest order for Sunevision is 500 shares at $5，242， including broker fees.
新意网是新鸿基地产属下的科技公司，招股价定于上限的10.38元，远比Tom.com高。Tom.com招股价为1.78元，昨日收市报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.
会包销无人供的股份will underwrite the unsubscribed rights issue
会在十二月十六日如期上市。
The listing would go ahead as scheduled on December 16.
该公司在十月发行二亿五千万股新股，每股作价五元，用以偿还债项。
In October， the firm raised $1.25 billion by issuing 250 million new shares at $5 each to repay debt.
该批股票占电盈已发行股本的24.93%. The shares represent 24.93 per cent of PCCW's issued share capital.
电盈在如此短时间内配股集资八亿美元，股价难免受压，但对长期投资者而言这正是趁低吸纳的大好时机。
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.
电盈表示希望藉供股集资五亿三千万美元。
CyberWorks said it aimed to raise US$530 million through the rights issue.
电盈昨日急跌百分之十点三至4.35元，跌破4.4元的配股价。
PCCW stock yesterday fell 10.3 per cent to HK$4.35 compared with the placement price of $4.40.
认股证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.
认股权发行rights issue/cash call
领汇昨日定价每单位10.83元，是意向价格（10.51元-10.83元）的上限价。
The issue was priced yesterday at $10.83 per unit， the top of the indicative price range of $10.51 to $10.83.
拨百分之十的新股股份供散户认购ear-marking 10 per cent of the float for small investors
贱卖港人资产selling off Hong Kong's assets too cheaply
尽量降低招股时的入场费keeping down the total cost of making a minimum investment in the float
机构投资者和小投资者的反应良好the response from institutional and retail investors for the bonds had been good
机构投资者对招股反应冷淡international investors cold-shouldered the issue
烧光银纸/用尽了创业资本burning through their venture-capital cash
获分配1，500股领汇股票has been allotted 1，500 shares in the Link Real Estate Investment Trust
获百分之百的配股were awarded 100 per cent of the shares they asked for
还债能力debt payback ability
继续出售项目来套现减债continue to realise more cash from the sale of assets to reduce its debt burden
九龙仓集团有限公司（0004）
The Wharf （Holdings） Ltd.
中信泰富有限公司（0267）
CITIC Pacific Ltd.
中国海洋石油有限公司（0883）
CNOOC Ltd.
中国移动（香港）有限公司（0941）
China Mobile （Hong Kong） Ltd.
中国联通股份有限公司（0762）
China Unicom Ltd.