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More than NT$160 billion to be raised on Taiwan's bourse in 2010

More than NT$160 billion to be raised on Taiwan's bourse in 2010

Taipei, Sept. 10 (CNA) Newly listed companies on Taiwan's stock exchange are expected to raise more than NT$160 billion (US$5.1 billion) in 2010, nearly double the NT$85.1 billion raised last year, the exchange said Friday.
The NT$43.4 billion raised on the local bourse in the first eight months of the year was up 192 percent from the same period a year earlier, the exchange said, and further listings expected for later in the year are expected to push the number considerably higher.
The high growth this year reflects the government's efforts to liberalize the country's capital markets and persuade foreign companies to list Taiwan depositary receipts or make a primary listing here, the exchange said.
In the past, only those companies that were registered and operated in Taiwan were allowed to list on the local bourse. But the government now encourages multinational companies to raise funds no matter where they are registered or operate.
The exchange said the relaxed listing rules aim to internationalize Taiwan's stock market and enhance its global visibility.
So far this year, six foreign companies have issued TDRs in Taiwan, raising a combined NT$8.6 billion.
The six companies are Hong Kong-listed Kith Holdings Ltd., Good Friend International Holdings Inc. and Global Sweeteners Holdings Ltd., Thailand-listed Karin Audit Co. Ltd., and Singapore-listed Yangzijiang Shipbuilding (Holdings) Ltd. and Super Group Ltd.
Since January 2009, 16 foreign companies have raised a total of NT$44.7 billion in Taiwan through TDR listings, according to the exchange.
So far, a total of 20 foreign companies have listed their TDRs on the main board, while U.S.-based IC designer Integrated Memory Logic, Inc. is the first and only foreign firm to make a primary listing in Taiwan.
(By Tian Yu-pin and Frances Huang)




Updated : 2021-07-28 16:27 GMT+08:00