Taiwan increases sell-offs

Article Abstract:

Taiwan is reducing its stake in China Steel from 42% to 39% by selling 214 million shares, worth an estimated T$6.27 billion. The Taiwanese government plans to sell all its stake in the company by the year 2000 as part of its privatisation programme. The banking sector is also being prepared for privatisation, with shares in the Chang Hwa bank, Huan Nan Commercial Bank and First Commercial Bank being sold by the end of 1998. Shares in the Chang Hwa Bank are expected to raise T$15 billion. Plans are being made to sell five other banks. Details of other sector sales are given.

Taiwan, Economic policy, Privatization, Privatization (Business), Chang Hwa Commercial Bank Ltd., Huan Nan Commercial Bank, First Commercial Bank (Taiwan)

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ENI 3 offer to raise $6bn

Article Abstract:

The sale of one billion shares in the oil and gas company, ENI, are expected to raise $5.98 billion when they go on sale 23 June 1997. Another 150 million shares will be sold if demand is great enough. A maximum price for each share has been set so that share prices do not increase before the closing date of 27 June. Investors will get a three per cent discount and employees will get a four per cent discount. The government will keep control of ENI by retaining 54.6% of the shares in the company.

Prices and rates, Stocks, Energy industries, Energy industry, Eni S.p.A., Stock prices

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Bulgaria sells Expressbank

Article Abstract:

The sale of Expressbank of Bulgaria by the government to Societe Generale of France, along with other privatization efforts by the Bulgarian government, are discussed in detail.

Commercial Banks, Commercial Banking, France, Government regulation, Bulgaria, Investments, Bulbank, Societe Generale S.A., Expressbank

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