Chunghwa sale raises almost USD1 billion

29 Sep 2006

Chunghwa Telecom’s latest share sale has raised USD958.75 million for the state and for minority shareholder Taiwan Mobile. The government placed 505.4 million shares for sale on the New York Stock Exchange in the form of American Depositary Receipts (ADRs), while Taiwan Mobile sold 59 million shares. The state had earlier offloaded an additional 120 million shares in Taiwan, and has seen its stake fall from 42.21% to 36.12% as a result of the sales and a reduction in Chunghwa’s capital in August.

Taiwan, Chunghwa Telecom