NRG Completes $15M IPO

On May 4, 2000, The NRG Group Inc. (NRG), a Toronto-based Internet incubation, venture capital and advisory company, completed an initial public offering of 6 million common shares at $2.50 per share. The shares are now listed and traded on The Toronto Stock Exchange. Charles Schwab Canada, Co. was the lead agent on the offering.

On the same day, a wholly-owned subsidiary of China.com Corporation exercised its rights to acquire 4,146,625 common shares of NRG through the conversion of an existing debenture and the exercise of an outstanding warrant. The common shares of China.com Corporation trade on NASDAQ with a market capitalization of approximately US$1.7 billion. China.com Corporation, which is based in Hong Kong, invests in Internet companies throughout the Asia/Pacific region and provides a full range of Internet products and services.

NRG was represented by a team of lawyers from Lang Michener including David Thring (corporate/ commercial) and Hellen Siwanowicz and John Conway (corporate securities). Charles Schwab and the other investment dealers were represented by Jennifer Northcote and Simon Romano of Stikeman Elliott. The Toronto and Hong Kong offices of Goodman Phillips & Vineberg acted for China.com, namely Kenneth Wiener, Georges Dubé and David Wiseman in Toronto and Douglas Smith and Scott Lau in Hong Kong.