Tue, Nov 02, 2004 - Page 11 News List

Business Briefs

STAFF WRITER WITH AGENCIES

■ Gretai market turns 10

Marking its 10th anniversary, the over-the-counter Gretai Securities Market (櫃檯買賣中心) yesterday hailed its success in now listing a total of 460 companies -- up from just 11 companies in its first year. Addressing its 10th anniversary celebration, Gretai Securities Market chairman Lee Yung-san (李庸三) said that in ten years they have helped more than 700 companies -- some of which have moved up to bigger stock exchanges -- raise public capital. Facing challenges in the next decade, Lee vowed to accelerate the market's internationalization by joining securities organizations in other emerging markets including the International Organization for Governmental Securities Commissions while seeking cooperation opportunities with other Asian counterparts. Lee said Gretai has inked an memorandum of understanding with the Korean over-the-counter market for future cooperation.

■ Quanta to buy back stock

Quanta Computer Inc (廣達電腦) said it plans to spend as much as NT$1.3 billion (US$39 million) to buy back as many as 20 million shares after the stock price slid 29 percent this year. The company said it will buy back the stock in the next two months starting today, Quanta said. The price will range anywhere from NT$50 to NT$65 a share. The buyback will continue even if the share price falls below the range, the company said.

■ NT dollar down

The New Taiwan dollar traded lower against its US counterpart yesterday, declining NT$0.025 to close at NT$33.460 on the Taipei foreign exchange market. Turnover was US$552 million.

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