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Fri, Aug 13, 2004 - Page 10　News List

Fubon Financial's earnings drop 11%

RETURNS A top official said earnings were NT$10.5 billion in the first seven months of the year and its January-June performance was in line with its budget forecast

By Jessie Ho  /  STAFF REPORTER

But another stock sale by Citigroup Inc is impending.

The two banks terminated their strategic partnership in late June. As a result, Citigroup, which had 10.2 percent stake in Fubon Financial, sold 20 million shares last month, and is applying to release 80 million shares this month, Kung said.

The rest of the shares may be transformed to Global Depository Receipts as Citigroup had earlier proposed, he said.

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