• Most Popular
  • Most Shared

Uni-President plans to raise more than US$595 mln

Wed Apr 16, 2008 10:09am EDT

Stocks

   

TAIPEI, April 16 (Reuters) - Taiwan's top food conglomerate, Uni-President Enterprises (1216.TW), plans to raise more than T$18 billion ($595 million) to help fund expansion and repay bank loans, it said on Wednesday.

Uni-President, a sponsor of the 2008 Beijing Olympics, plans to raise T$12 billion in a convertible bond sale, it said in a filing to the Taiwan stock exchange.

It also plans to sell 300 million new shares in a rights issue and another 300 million shares via a private placement, it said, without giving details.

The selling prices of the new shares have not been decided, it said.

On Wednesday, shares of Uni-President rose 1.2 percent in Taiwan trading and Uni-President China closed unchanged in Hong Kong. (Reporting by Faith Hung; Editing by Paul Bolding) (Reuters Messaging: faith.hung.reuters.com@reuters.net; +886 2 2508 0815))



More from Reuters

Photo

Senate on track to pass healthcare bill

WASHINGTON (Reuters) - Senate Democrats moved closer on Monday to passing landmark healthcare legislation by Christmas after scoring a win in the first big test vote and gaining the support of a powerful lobbying group for doctors. | Video

» More Top News
Photo

Political risk clouds Asia

The economic outlook is strong, but the danger of a sudden correction hangs over Asian markets - as political risks could turn sunshine to storm clouds in the blink of an eye.  Full Article 

Global Markets
Two men shake hands in a file photo. REUTERS/File

Let's make a deal

The battered M&A sector will make a tepid recovery in the coming year and three hot sectors will lead the way, according to a Thomson Reuters analysis.  Full Article 

Global Deals Review