Financial

Mustek announces results of buyback


Johannesburg, 11 Feb 2003
Read time 50sec

Mustek received acceptances for nearly half of the shares it offered to buy back from shareholders.

Mustek made an offer to shareholders to buy up to 10% of their stock.

It says it received acceptances for about 4.2 million shares representing 49.22% of the offer shares.

The pro rata repurchase offer of 500c a share was made after the group announced it was to list 20 million depository receipts at the same price on Taiwan`s stock exchange. The listing took place last month and the repurchase offer closed last Friday.

The Taiwanese listing was intended to provide Mustek access to foreign capital markets, potentially to improve its market rating from the higher ratings associated with the Taiwanese exchange, and increase its international visibility and brand recognition.

Related stories:
Mustek to list in Taiwan next week
Green light for Mustek`s Taiwan listing
Mustek`s Taiwanese listing gets nod

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