Chunghwa Picture Tubes prepares convertible

Large screen flat panel display manufacturer Chunghwa Picture Tubes (CPT) is poised to launch Taiwan''s first equity-linked offering of the year.

A $70 million convertible for the electronics company is likely to be launched either this Friday, or early next week subject to market conditions following an expected interest rate cut by the US Federal Reserve after its Open Markets meeting on Wednesday.

Citibank Taipei will handle the transaction rather than Salomon Smith Barney, since the former has a lending relationship with the group, which ranks as the country's third largest by market capitalization on the OTC...

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