Monday, August 27, 2007

Taiwan's Chunghwa Telecom to conduct Share Buy-back

Chunghwa Telecom, the incumbent operator in Taiwan, announced a share repurchase or buy-back program. The company expects to repurchase 250 million ordinary shares, representing 2.35% of the company's total outstanding shares. The range of the repurchase price will be from NT$38.36 to NT$85.23 per share. Repurchased shares will be deregistered in the future.

Chunghwa also announced plans to review its real estate holdings, which include approximately 410 hectares across Taiwan. The company will then release unused lands gradually to a new property management subsidiary to develop these assets.

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