Singapore-based Super Group Ltd (超級集團), the largest instant coffee producer in Southeast Asia, has applied to issue Taiwan depositary receipts (TDR), Taiwan Stock Exchange Corp said yesterday.
Super Group, which is listed in Singapore, would be the second company listed there to issue TDRs in less than a year after Oceanus Group Ltd (歐聖集團), an abalone grower, issued TDRs on Dec. 31 last year.
“The listing of Super Group TDRs is expected in August at the earliest after all necessary documents are reviewed by related authorities, such as the Financial Supervisory Commission and the central bank,” a Taiwan Stock Exchange official in charge of TDR listings said.
Super Group, founded in 1987 and known as Super Coffeemix Manufacturing until earlier this month, was first listed on the Singapore exchange’s SESDAQ before moving to the exchange’s Mainboard (SGX) in 1998.
The company, which operates 12 manufacturing facilities in Singapore, Malaysia, China, Myanmar and Thailand, owns 10 brands and more than 300 products, including instant coffee, instant tea, instant cereals, instant noodles and non-dairy creamers.
Super Group, which has a distribution network in 52 countries, posted a net income of S$40.45 million (US$28.77 million) last year, up 55 percent from a year earlier.
Medtecs International (美德醫療), a healthcare service provider, was the first Singapore-listed company to raise funds through a TDR listing back to 2002.
A total of 18 foreign companies have listed TDRs on the exchange.
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