Global Sources tender offer oversubscribed

By Lisa Kerner

Charlotte, N.C., Dec. 23 - Global Sources Ltd. said about 38.8 million of the company's shares were tendered in an offer that ended Dec. 19.

The results are based on a preliminary count by Computershare Trust Co., NA, according to a Global Sources news release.

As previously reported, Global Sources began its cash tender offer on Nov. 21 for up to 6.25 million shares, or 13.4%, of its outstanding common stock at $8 per share for up to $50 million.

Global Sources said it expects the proration process in the oversubscribed offer to be completed by Dec. 26.

Georgeson Inc. (866 295-4321) is the information agent for the tender offer.

Global Sources is a Hong Kong business-to-business media company.

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