GLOBAL co-ordinator HSBC has launched the sale of stock in MaltaCom, Malta's national telecom operator. The offering, the first international equity transaction from the island state, heralds the start of the country's privatisation programme. The $90m sale of GDRs will involve some 40% of the company's equity capital being placed in public hands. Following two weeks of premarketing, the lead manager has indicated a price range to potential investors of between $12.44 and $13.62 (M£82 to M£89.5).
June 05, 1998