TPK Holding Co Ltd (宸鴻), a China-based touch panel technology application provider, is scheduled to list on the Taiwan Stock Exchange (TSWE) on Oct. 29, the TSWE said yesterday.
The stock exchange said TPK is expected to become the second foreign company to launch a primary listing on the local main board after US-based integrated circuit designer Integrated Memory Logic made its debut in May.
According to the company’s prospectus, TPK, founded in 2005 and capitalized at NT$1.96 billion (US$63.61 million), intends to issue 28 million new shares, of which 4.2 million will be reserved for company employees and the remaining 23.8 million will be sold to the public.
Underwriter Yuanta Securities said the indicative range of the listing price is set at NT$200 to NT$220 and the share sale is expected to raise up to NT$6.16 billion for the company, which was set up by Taiwanese in China.
TPK said in the prospectus that it would use the proceeds of the listing as working capital to fund research and development, purchases of raw materials for production and day-to-day operations at its base located in Xiamen, Fujian Province. It said the funds are also expected to help it expand, as the global touch panel market is growing.
TPK’s touch panel technology application is largely used in consumer electronics products, such as smartphones, handheld devices and tablet PCs. Last year, TPK posted net earnings of NT$2.32 billion, compared with NT$388 million recorded the previous year.
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