Tue, Mar 01, 2005 - Page 11 News List

Business Briefs


■ Motorola sells shares

Motorola Inc, the second-biggest mobile phone maker in the world, may raise HK$874.6 million (US$112 million) from the sale of 517.5 million shares of Semiconductor Manufacturing International Corp (中芯國際集成電路) that it owns, according to a term sheet issued to investors today. The shares are being offered at HK$1.64 to HK$1.69 each, representing a discount of as much as 3 percent to the company's closing price of HK$1.69 today, the term sheet showed. Shanghai-based Semiconductor Manufacturing, China's biggest supplier of made-to-order chips, raised HK$14 billion in a Hong Kong initial public offering last March. The stock was sold to investors at HK$2.72 in the initial public offering (IPO). Deutsche Bank AG, which arranged the IPO with Credit Suisse First Boston, is managing today's sale. Motorola owned 1.43 billion Semiconductor Manufacturing shares or about 7.8 percent of the company's outstanding stock at Dec. 31.

■ Hong Kong port costs rise

Port operators in Hong Kong and neighboring Shenzhen plan to levy additional charges on containers handled by their terminals to cover the cost of security, shipping daily Lloyd's List reported, citing a memo to shipping lines. Hong Kong will charge a security fee of HK$50 (US$6.41) for each laden container it handles from May 1, the report said. Shenzhen will charge 50 yuan (US$6.04) for each container. European and US ports have introduced similar charges, Lloyd's said.

■ Bike show starts Friday

The 2005 Taipei International Bicycle Show starts on Friday at the Taipei World Trade Center Exhibition Hall, the event's organizer, the Taiwan External Trade Development Council (TAITRA), said last week in a statement. Apart from Taiwanese bike manufacturers who have factories in China, Vietnam and the Philippines, many global brands in the US and Europe will also showcase their latest products at this year's event, TAITRA said. According to TAITRA statistics, more than 600 companies have registered to take part in this year's fair, which features 2,000 booths. The Taipei Cycle Show, Asia's largest bicycle fair, will also hold the Taipei International Elimination Road Race on Sunday with 40 athletes from 14 countries participating, TAITRA said. The winner of the race will receive a NT$100,000 (US$3,175) cash prize.

■ Foreign capital boosts market

The combined market value of listed companies in Taiwan hit NT$14.249 trillion (US$452.36 billion) at the close of trading on Friday, up NT$214.27 billion, or 1.53 percent, over the previous week, according to statistics compiled by the Taiwan Stock Exchange Co (TSEC). The TAIEX -- the benchmark of the domestic bourse -- moved up 92.4 points, or 1.51 percent, for the week to finish at 6,207.83. The surge was mainly due to an inflow of foreign capital due to an increasing appreciation of the NT dollar against the US dollar, according to the TSEC report. Share prices for the 20 main categories gained ground, except for paper and pulp issues, with glass and ceramics stocks moving up the most at 7.4 percent. There have been 34 trading days on the Taiwan Stock Exchange so far this year, with a combined turnover of NT$2.312 trillion, or a daily average of NT$66.89 billion.

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