CSC prepares to sell its shares
Taiwanese Steel Mill announced that the govenment will start selling 16.2% of its shares in the state-run steelmaker
CSC next week. Cabinet's Development Fund is expected to sell 570 million shares on the domestic market and 969 million shares to overseas countries, which makes a total of 1.5 billion shares.
The government is expected to begin
trading 570 million value of
China Steel Shares, or 6% of stake at an auction, that will take place next week, after local stock market closes. It is also reported that, no single institutional investor will be permitted to purchase more than 1% of the shares.