Mon, Jul 20, 2009 - Page 12 News List

GRETAI seeks to woo firms in Bay area

STAFF WRITER, WITH CNA

GRETAI Securities Market over-the-counter (OTC) chairman Lu Daung-yen (呂東英) has told executives of high-tech firms in Silicon Valley that they can use Taiwan’s capital market to raise money for business expansion.

An OTC spokesman said yesterday in Taipei that Lu is heading a mission in the Bay Area to promote Taiwan’s OTC market.

While venture capitalists in the Bay Area have become relatively conservative in recent years and high-tech companies there have found it more difficult to raise capital, Taiwan’s OTC is trying to impress the companies with its advantages of high turnover and price-to-earning ratio.

Lu is scheduled to visit seven electronics companies founded by Chinese-Americans during his stay.

Lu said in a radio interview in the Silicon Valley on Saturday that these companies should integrate their operations with downstream suppliers to develop products with higher added value.

In the meantime, they can try to raise capital in Taiwan to facilitate their expansion, Lu was quoted as saying.

Lu also said he would propose that the firms use GRETAI’s asset trading service platform to market their intellectual-property rights and seek strategic partners.

Lu will give a presentation in Silicon Valley tomorrow on GRETAI’s operations.

The GRETAI made its first attempt to lure Bay Area high-tech firms to issue IPOs last summer.

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