Evergreen Marine Corp (長榮海運) and Evergreen International Storage & Transport Corp (長榮國際儲運) bought a 23 percent stake in the nation's government-backed Central Reinsurance Co (中央再保) for NT$850 million (US$25 million).
The two units of the nation's largest shipping company bought 67.4 million shares in Central Reinsurance for NT$12.60 each, the Evergreen group said in a statement. Central Reinsurance's closing price was NT$11.15.
President Securities Corp (統一證券) yesterday completed the sale on behalf of the Ministry of Finance of 69.4 million Central Reinsurance shares for between NT$11.60 and NT$12.60 each, raising NT$872 million, the official Central News Agency said.
The government pared its Central Reinsurance stake to 48 percent from 71 percent through the sale, which was originally scheduled to continue until tomorrow. The minimum permitted bid was NT$10.75.
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