Taipower privatization

The state-run power Taiwan Power Company will expand its capital base to NT$400bn ($11.5bn) from the current NT$300bn in line with privatization. The first issuance of shares is slated for 1999. The market price of stock will be set at NT$10 per share with three shares available to the public.

Taipower said it would not raise electricity prices but admitted that electricity rates were “really too low at present”.