Christine Foodstuff Co (克莉絲汀食品) is expected to become the first baking company to trade shares on the local bourse if the Shanghai-based firm’s plan to list is successful, the Taiwan Stock Exchange Corp (TWSE, 台灣證交所) said on Friday.
Aside from the baking industry, the stock exchange will also encourage overseas biochem technology and retail distribution businesses run by Taiwanese to list in Taiwan, rather than focus solely on high-tech companies based in Silicon Valley, TWSE said in a statement.
Christine Foodstuff was founded by Taiwanese Lo Tien-an (羅田安) in 1992. Its expected listing on the TWSE comes after two other firms operated by Taiwanese businessmen abroad — Want Want China Holdings Ltd (中國旺旺控股) and Ju Teng International Holdings Ltd (巨騰) — began trading on the main bourse in the first half of this year.
Both Want Want China, which runs the biggest rice cake and flavored milk businesses in China, and Ju Teng, a maker of notebook computer casings, also trade in Hong Kong.
The two were allowed to list on Taiwan’s bourse by issuing Taiwan Depository Receipts (TDRs) — also known as second listing — while Christine Foodstuff is applying for a first listing, because the firm has yet to be listed anywhere.
Since late last year, 18 overseas companies have applied to TWSE for first listings. The stock exchange has set a target of 35 new listed companies this year.