China’s Yangzijiang Shipbuilding Holdings Ltd (揚子江船業) plans to sell shares in Taiwan next month, making it the first Chinese firm to be traded on the local bourse, its chief underwriter said yesterday.
China’s fourth-largest shipmaker aims to raise up to NT$4.5 billion (US$140 million) via Taiwan depositary receipts (TDRs), said Jeff Wen, a project manager at SinoPac Securities Co (永豐金證券), which is handling the deal.
The company intends to sell 240 million TDRs, or 120 million of its shares, for NT$17 to NT$19 each, he said.
It is aiming to list on Sept. 8, he said.
“The response is very enthusiastic as Yangzijiang will be the first Chinese firm to be listed in Taiwan,” he said.
Yangzijiang Shipbuilding is also registered and listed in Singapore.
Taiwan and China last year signed three financial memoranda amid warming ties, paving the way for closer cooperation in banking, insurance and securities.
The signing of the Economic Cooperation Framework Agreement in June is likely to further speed up financial exchanges, making it easier for Taiwanese banks to set up branches in China.
“This is definitely a milestone for Taiwan,” Stanley Chu (朱士廷), a spokesman for Taiwan Stock Exchange (臺灣證交所), said by telephone in Taipei. “Our next step is to get red chips to list in Taiwan. Hopefully that will happen by the end of the year.”
Red chips are Chinese companies incorporated overseas and traded in Hong Kong.
purpose: Tesla’s CEO sought to meet senior Chinese officials to discuss the rollout of its ‘full self-driving’ software in China and approval to transfer data they had collected Tesla Inc CEO Elon Musk arrived in Beijing yesterday on an unannounced visit, where he is expected to meet senior officials to discuss the rollout of "full self-driving" (FSD) software and permission to transfer data overseas, according to a person with knowledge of the matter. Chinese state media reported that he met Premier Li Qiang (李強) in Beijing, during which Li told Musk that Tesla's development in China could be regarded as a successful example of US-China economic and trade cooperation. Musk confirmed his meeting with the premier yesterday with a post on social media platform X. "Honored to meet with Premier Li
Dutch brewing company Heineken NV on Friday announced an investment of NT$13.5 billion (US$414.62 million) over the next five years in Taiwan. The first multinational brewing company to operate in Taiwan, Heineken made the statement at a ceremony held at its brewery in Pingtung County. It also outlined its efforts to make the brewery “net zero” by 2030. Heineken has been in the Taiwanese market for 20 years, Heineken Taiwan managing director Jeff Wu (吳建甫) said. With strong support from local consumers, the Dutch brewery decided to transition from sales to manufacturing in the country, Wu said. Heineken assumed majority ownership and management rights
coverage expansion: The industrial PC maker has proposed to acquire 3.938 million Aures shares to strengthen its global smart retail presence Leading industrial PC maker Advantech Co (研華) plans to acquire Aures Technologies SA, a French company known for its point-of-sale (POS) and kiosk equipment, to expand its global coverage in smart retail products and services. Advantech proposed to acquire 3.938 million Aures shares from the French firm’s major shareholder and through a public tender offer at up to 6.7 euros per share, the PC maker said in a statement after announcing the deal at the Taiwan Stock Exchange late on Friday. The company aims to acquire up to 100 percent equity of Aures, a well-known brand in the western market with a
Microsoft Corp yesterday said that it would create Thailand’s first data center region to boost cloud and artificial intelligence (AI) infrastructure, promising AI training to more than 100,000 people to develop tech. Bangkok is a key economic player in Southeast Asia, but it has lagged behind Indonesia and Singapore when it comes to the tech industry. Thailand has an “incredible opportunity to build a digital-first, AI-powered future,” Microsoft chairman and chief executive officer Satya Nadella said at an event in Bangkok. Data center regions are physical locations that store computing infrastructure, allowing secure and reliable access to cloud platforms. The global embrace of AI