Mon, Aug 03, 2009 - Page 12 News List

Thai Ho applies to trade on local bourse

By Kevin Chen  /  STAFF REPORTER

Taiwan Stock Exchange Corp (TWSE, 台灣證交所) said on Friday that cosmetics maker Thai Ho Group Inc (太和集團) had applied to trade shares on the local bourse.

If Thai Ho’s plan to list is successful, it will become the first beauty product maker to trade shares in Taiwan, the stock exchange said in a statement on its Web site.

Thai Ho, which counts Avon, Mary Kay, Boots, Revlon and other cosmetic brands among its customers, was founded in Taiwan in 1980 and relocated to China in the early 1990s. The company has US$11 million in capitalization, with US$5 million in pre-tax profit, the stock exchange said without specifying how recent the figures were.

Including Thai Ho, 20 overseas companies have applied to TWSE for primary listings since the second half of last year, as the stock exchange aims to develop Taiwan into a major fundraising platform for overseas companies in the region.

Meanwhile, three overseas firms have also applied for secondary listing on Taiwan’s bourse by issuing Taiwan Depository Receipts (TDRs) because they are already listed elsewhere, the stock exchange said.

Hong Kong-based New Focus Auto Tech Holdings Ltd (新焦點汽車) became the latest to apply for a TDR listing.

New Focus would be the third overseas company to list TDRs on the local bourse this year following Want Want China Holdings Ltd (中國旺旺控股) and Ju Teng International Holdings Ltd (巨騰).

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