Taiwanese Firms in China Show Keen Interest in Listing on TSE

Taipei, Sept. 1, 2008 (CENS)--Taiwan Stock Exchange (TSE) received warm reception in a recent trip to eastern and southern China pushing listings by Taiwanese-invested firms on the Taiwanese bourse.

TSE reported yesterday (Aug. 31) that 11 Taiwanese-invested enterprises expressed strong interest in returning to Taiwan for share listing at explanation sessions held by the TSE in eastern China, Dongguan, and Zhuhai recently.

The initiative was headed by Chu Shih-ting, vice president of TSE, as part of the TSE's goal of encouraging listings by overseas Taiwanese enterprises on the Taiwanese bourse, especially those in mainland China, in line with the government's policy developing Taiwan into a regional funding center. Chu and other TSE officials were joined by representatives from Fubon Securities, Capital Securities, and KPMG Taiwan during the trip, who aimed to secure listing-related business opportunities.

Of the 11 with strong interest in listing shares, nine aim at IPO (initial public offering) and are engaged in the fields of 3C retail outlets, silicon wafer, notebook PC, medical bio-tech, business machine, and plastic case. They boast total book value of over NT$12 billion NT$3-4 of net profit per share, meeting qualifications for share listing by overseas enterprises passed by the TSE in May this year.

The other two firms have listed shares on the Hong Kong bourse but plan to issue Taiwan depository receipts (TDR) back in Taiwan.

In order to fulfill the government's policy of developing Taiwan into a regional funding center, the TSE has been soliciting listings by overseas Taiwanese enterprises on the local bourse in recent years. Since assuming the chairmanship of the TSE earlier this year, Schieve Chi has shifted the focus of the effort to Taiwanese enterprises to China, different from his predecessor Wu Rong-I, who focused on Taiwanese enterprises outside China, notable Southeast Asia.