11.14.2001
Cooperative Bank to decide UWCCB share auction price

• Taiwan Cooperative Bank (unlisted) will today decide on an auction price for its 70m share holdings (1.8% of outstanding shares) in UWCCB and the date of sale. According to regulation, the upper price is 15% of the previous day’s closing price. Cathay Life Insurance (2805 TT), which has already obtained permission to acquire 15% of UWCCB shares, continues to show strong interest in the bank. Lowest price is expected to be above NT$20, giving shares short-term upside potential.