HONG KONG Jan 16 Formosa Petrochemical Corp's
three largest shareholders plan to raise up to $340
million from the sale of shares in Taiwan's top plastics
conglomerate, IFR reported on Thursday, citing a term sheet for
Formosa Plastics, Nan Ya Plastics, and Formosa Chemicals &
Fibre plan to sell 129.6 million shares in an indicative range
of T$77.00-T$79.00 each, added IFR, a Thomson Reuters
publication. That would put the deal at T$10.24 billion ($340
The deal may grow to 154.8 million if underwriters exercise
an option to sell additional shares to meet demand.
Bank of America Merrill Lynch and UBS AG
were hired as joint bookrunners of the selldown, added IFR.