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 the deal. 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 million).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.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI traded higher by 0.75% or $0.28/share to $37.38. In the past year, the shares have traded as low as $29.33 and as high as $38.73. On average, 772010 shares of TRI exchange hands on a given day and today's volume is recorded at 744010.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI traded higher by 0.81% or $0.33/share to $40.91. In the past year, the shares have traded as low as $29.38 and as high as $41.13. On average, 936541 shares of TRI.TO exchange hands on a given day and today's volume is recorded at 960993.
UBS AG is a client-focused financial services company that offers a combination of wealth management, asset management and investment banking services on a global and regional basis. Shares of UBS traded higher by 0.19% or $0.04/share to $20.81. In the past year, the shares have traded as low as $15.08 and as high as $21.61. On average, 2511790 shares of UBS exchange hands on a given day and today's volume is recorded at 2413737.
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