Formosa placement

PUBLISHED : Friday, 06 October, 1995, 12:00am
UPDATED : Friday, 06 October, 1995, 12:00am

FORMOSA Growth Fund says it will place 2.35 million redeemable ordinary shares of one US cent each at US$13.47 per share to independent institutional investors.

The $13.47 price of the placing shares is equal to 101.5 per cent of the net asset value of the redeemable ordinary share, which stood at $13.27 yesterday.

The share closed at $14.50 yesterday, putting the placing price at a discount of seven per cent.