Chunghwa share sale receives boost; race is on to beat ex-dividend date

2 Aug 2005

The long-awaited privatisation of Taiwan’s dominant fixed line operator Chunghwa Telecom received a boost late last Friday when the country’s Council of Grand Justices rejected a constitutional challenge to the planned listing. The proposed sale would leave the Taiwanese government with a less than 50% share, something that has provoked widespread opposition from unions and some politicians. The listing – due to take place on the New York Stock Exchange – could go ahead within the next ten days. Chunghwa Telecom goes ex-dividend on 11 August, and any sale after that date will be less appealing to investors.

Taiwan, Chunghwa Telecom