Thu, Feb 17, 2005 - Page 11 News List

Business Briefs 

AGENCIES

E.Sun to sell bonds overseas

E.Sun Financial Holdings Co (玉山金控), which took over failed Kaohsiung Business Bank (高雄企銀) last May, said it plans to sell up to US$200 million in convertible bonds overseas this year to raise funds for further acquisitions.

The proceeds will also help provide it with long-term operational funds, E.Sun said in a statement to the Taiwan Stock Exchange. The timing for the issuance will be decided by its chairman, the statement said.

In a separate statement, E.Sun forecast a profit of NT$5.76 billion (US$182 million) this year, up 20 percent from its unaudited profit of NT$4.8 billion for last year.

Yageo to buy Compostar

Yageo Corp (國巨), the nation's biggest maker of parts that control electricity flow in computers and handsets, said it'll buy Compostar Technology Co (華亞電子) in a share swap. The transaction has a market value of NT$1.1 billion.

Yageo will use about 4.2 percent of outstanding shares to buy 52 percent of Compostar, it said in a statement to the Taiwan Stock Exchange last night. The transaction will be completed on April 21.

Yageo expects to become one of the world's three largest suppliers, raising its share of the global market for multilayer ceramic capacitors from 11 percent to 15 percent.

NT dollar gains ground

The New Taiwan dollar advanced against the US dollar on the Taipei Foreign Exchange yesterday, gaining NT$0.021 to close at NT$31.569 on turnover of US$686 million.

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