Sumitomo may get boost
Article Abstract:
Sumitomo Bank Ltd., based in Japan, is expected to benefit from a plan by Goldman, Sachs & Co., a 129-year-old US investment banking firm, to go public in autumn 1998. Sumitomo's equity stake in Goldman, which according to a Sumitomo spokesman is just below 10%, could translate into a value of up to $3 billion. This is because Goldman's plan to sell a 10% to 15% stake in the company is estimated to be worth $20 billion to $30 billion. If Sumitomo decides to sell its stake, the proceeds would boost Sumitomo's capital level. If Sumitomo keeps its stake, it could revalue it to strengthen its balance sheet.
Comment:
Is expected to benefit from a plan by Goldman, Sachs & Co, a 129-year-old US investment banking co, to go public in autumn 1998
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1998
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Bank SinoPac appears poised to rise further
Article Abstract:
The share price of Bank SinoPac continued to rise and had climbed 62% in the Taiwan Stock Exchange since Feb 5, 1999 prior to the announcement of the Finance Ministry for a proposed tax reduction aimed at assisting banks in managing their bad debts. The profits of Banc SinoPac were predicted to increase in 1999 due to the decline in the interest rates paid by the bank on deposits thereby lowering its funding costs.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1999
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Sumitomo may get boost: Goldman IPO would be Japan bank's windfall
Article Abstract:
Goldman, Sachs and Co's initial public offering will benefit Sumitomo Bank Ltd, given the Japanese bank's equity stake of less than 10% in Goldman. The 129-year-old investment-banking firm confirmed its plans to sell a 10% to 15% stake in the company, which is equivalent to $20 bil to $30 bil. Sumitomo's equity stake in the company, which is expected to be valued at $3bil, was paid for only $500 mil in 1986.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1998
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Comment about this article or add new information about this topic:
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