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Mustek`s Taiwanese listing gets nod


Johannesburg, 31 Oct 2002

The Central Bank of China has given JSE-listed Mustek permission to go ahead with the listing of its depository receipts for trade on the Taiwan Stock Exchange.

The IT distribution group is planning to place depository receipts with custodial banks in Taiwan, enabling Taiwanese investors to dabble in the stocks in their local currency.

It announced previously that it would issue 20 million Mustek shares for cash at an issue price of no less than 450c per share, making the total value R90 million.

Should the transaction go ahead, Mustek shareholders will have the option to sell up to 10% of their Mustek shares to the company at the Taiwanese depository receipt listing price by way of pro-rata buy-back.

Mustek says the relevant documentation has been filed with the Taiwan Stock Exchange, which is the final regulatory body from which approval for the transaction is necessary.

It will announce final dates once the exchange approves of the listing.

The Mustek share price was unchanged at 500c on the JSE early this afternoon.

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