Sat, Feb 25, 2006 - Page 11 News List

Business Briefs

STAFF WRITER, WITH AGENCIES

Tourism hopes boost stocks

Shares rose yesterday after three days of declines, led by gains in tourism companies on market speculation that China will allow more of its citizens to visit Taiwan.

The TAIEX rose 63.53 points, or 0.98 percent, to 6,538.22 on turnover of NT$81.74 billion (US$2.52 billion).

E-ton enjoys lots of interest

E-ton Solar Tech Co's (益通光能) initial public offering attracted 65,735 applicants in four days, aiming to snatch up 265,000 shares through a lot drawing system, according to the Taiwan Stock Exchange.

Each applicant can only subscribe for 1,000 shares, which means that only one out of 2,500 can win shares in the firm.

Tainan-based E-ton offered the shares at NT$218, while its shares closed at NT$800 on the Emerging Stock Market (興櫃市場) yesterday. The huge return has siphoned off NT$141.7 billion in investments in the past four days.

The drawing of lots will be held on Monday.

Loans for brand development

Council for Economic Planning and Development officials yesterday approved a proposal to offer NT$30 billion (US$923 million) in low-cost loans to help businesses develop their own brands.

Individual companies can secure loans of as much as NT$300 million, to be repaid within seven years, the council said.

NT dollar climbs

The New Taiwan dollar rose NT$0.078 to close at NT$32.492 against the US dollar yesterday on turnover of US$776 million.

Staff writer, with agencies";

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