TAIWAN
From Times Staff and Wire Reports
More Stock in China Steel to Be Sold Overseas: Despite a sharp plunge in the price of Taiwan’s first overseas stock issue, authorities say they are sticking with a plan to sell more shares over the next year. The government intends to sell to both foreign and local investors 1.1 billion shares, or 16%, of state-run China Steel Corp., Taiwan’s largest maker. In May, Taiwan sold 7% of China Steel’s stock to local investors and 5% to foreign investors through global depository receipts (GDRs).
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