Fri, Apr 20, 2007 - Page 11 News List

Business Briefs


TAIEX slides on retreat

Shares closed 1.43 percent lower yesterday on the back of the retreat in major regional markets during morning trade, dealers said.

The TAIEX closed down 114.68 points at 7,888.63, on turnover of NT$108.29 billion (US$3.28 billion).

The New Taiwan dollar rose NT$0.023 to close at NT$33.136 against the US dollar, on turnover of US$1.46 billion.

TTV shares to go on sale soon

The government is scheduled to start offering shares of the Taiwan Television Enterprise (TTV, 台視) to the public at NT$12 per share, starting from May 15 to June 22.

There will be more than 54 million shares, or a 19.46 stake in TTV, offered to the general public, Liu Chen-lo (劉振樂), vice president of Taiwan Cooperative Bank (合作金庫銀行), said yesterday.

The government will also offer 2.16 percent of TTV shares at NT$10.8 per share to TTV employees as stock options, Liu said.

The share sale is expected to be completed by the end of August, he added.

Investors eye China United

The Financial Supervisory Commission is mulling halting the government's takeover of China United Trust and Investment Corp (中聯信託) as a foreign investor is offering to plow over NT$10 billion (US$302 million) into the debt-ridden lender.

A foreign asset management firm has expressed its long-term investment interest in China United, commission Chairperson Susan Chang (張秀蓮) said yesterday.

The company plans to explore more investment opportunities in the local market if the acquisition is successful, Chang said.

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