FarEasTone mandates ADR

Taiwan''s fourth largest wireless operator has selected lead managers for a prospective $500 million to $600 million ADR.

Goldman Sachs and Merrill Lynch have won bake-offs to lead the transaction, which is provisionally being scheduled for launch in the autumn. Five banks that made the shortlist became four last week when Morgan Stanley Dean Witter decided not to attend bake-offs, leaving Credit Suisse First Boston and UBS Warburg as the two also-rans.

The appointment of the two US investment banks comes as no surprise, however, since both are considered the respective house banks of FarEasTone's two major shareholders, Far Eastern Textiles Goldman and ATT Wireless Merrills.

FarEasTone is planning to use proceeds from the deal to fund its...

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222