Formosa makes placement

PUBLISHED : Wednesday, 03 November, 1993, 12:00am
UPDATED : Wednesday, 03 November, 1993, 12:00am

THE directors of the Formosa Growth Fund have made a US$6.8 million private placing of shares with independent professional and institutional investors.


About 699,000 redeemable ordinary one cent shares were placed at 14 cents per share, representing a premium of about three per cent over the net asset value per share at closing yesterday.