Spain launches her largest public offer

Article Abstract:

Spanish state holding company SEPI will offer 25% of its 66.9% stake in Spain's leading electricity company Endesa. It is predicted to bring in $5.3 billion at current market value. Endesa is Spain's second biggest company and made a profit of $1 billion in 1996. Previous state share sell-offs have involved Telefonica and Repsol, and is part of an on-going policy of privatisation by the Aznar government. A future sale will involve 65% of steel manufacturer Corporacio Siderurgica Intergral (CSI).

Spain, Privatization, Privatization (Business), Company Profile, Endesa S.A.

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Kepco ADR offer hits the road

Article Abstract:

Korea Electric Power's America Depository Receipt (ADR) offer of 3.3% did not meet previous government expectations of 5.3%. The 42-million share offer will reach 3.8% if a 15% green shoe option is realized. Price and size issues accounted for lower offer in its third ADR attempt. The company would raise up to US$625 million if its per-ADR price holds at US$14.88, its trading value when management went overseas in Mar 1999.

United States, South Korea, Securities issued, listed, American depository receipts, American depositary receipts, Going public (Securities), Initial public offerings, Korea Electric Power Corp.

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Asia Private Sale : Electricity Generating Public Company

Article Abstract:

China Light & Power purchased 14.9% of Electricity Generating Public Company Ltd.'s (EGCO) stock shares at $3.5 per share. The stock sale conducted by Electricity Generating Authority of Thailand is part of the country's privatization program. The stock sale generated additional funds that helped EGCO minimize its debt and focus on other management issues.

China, Acquisitions & mergers, Thailand, Investments, China Light and Power Company Ltd., Electricity Generating Public Company Ltd.

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