Chunghwa Telecom seeks bids for ADR

The long-awaited RFP to lead Taiwan''s Chunghwa Telecom to the international equity markets was sent out yesterday (Thursday).

Submissions to lead what is expected to be a $4 billion ADR offering are due by August 28, with the sale shaping up to become one of Asia's most sought after mandates. As the world's 15th largest telecommunications company in terms of fixed line subscribers, Chunghwa will also rank as one of Asia's largest privatisations.

The deal itself is scheduled to reach the market during the first quarter of 2001 and will not only mark the culmination of stage one in the government's ambitious privatisation schedule, but should also establish a key benchmark for Taiwan's telecommunications sector. A growing pipeline of domestic operators are now lining up behind it,...

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