Taiwan-based Gourmet Master Co Ltd (美食達人), which runs the popular 85o Cafe chain, has set the price for its primary listing at NT$168 after a public subscription was warmly received by the market, underwriter Yuanta Securities (元大證券) said yesterday.
The stock is scheduled to make its debut on Taiwan’s stock exchange on Nov. 22.
The Cayman Islands-registered company offered 3.85 million shares for the public subscription, which ended on Friday, triple the previously planned 1.28 million shares because of investor enthusiasm, Yuanta Securities said.
According to the underwriter, the share sale was more than 200 times oversubscribed.
The NT$168 price set for the listing is also higher than the NT$158.00 target the company had tentatively proposed in its prospectus published last month. It is hoping to raise about NT$650 million (US$21.4 million) from the listing.
Gourmet Master operates coffee shops in Taiwan, China, Australia and the US, providing coffee, tea, cakes and bread. About 60 percent of its total revenue comes from China, where it has 150 outlets.
The company had net income of NT$758 million last year, up about 130 percent from 2008, according to the prospectus.
In the first three quarters of this year, Gourmet Master had net earnings of NT$634 million, equal to an earnings per share of NT$4.95, the underwriter said.
The company said it will use the proceeds from the listing primarily to expand its operations worldwide, including adding outlets and recruiting research and development staff and bakers.
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) last week recorded an increase in the number of shareholders to the highest in almost eight months, despite its share price falling 3.38 percent from the previous week, Taiwan Stock Exchange data released on Saturday showed. As of Friday, TSMC had 1.88 million shareholders, the most since the week of April 25 and an increase of 31,870 from the previous week, the data showed. The number of shareholders jumped despite a drop of NT$50 (US$1.59), or 3.38 percent, in TSMC’s share price from a week earlier to NT$1,430, as investors took profits from their earlier gains
In a high-security Shenzhen laboratory, Chinese scientists have built what Washington has spent years trying to prevent: a prototype of a machine capable of producing the cutting-edge semiconductor chips that power artificial intelligence (AI), smartphones and weapons central to Western military dominance, Reuters has learned. Completed early this year and undergoing testing, the prototype fills nearly an entire factory floor. It was built by a team of former engineers from Dutch semiconductor giant ASML who reverse-engineered the company’s extreme ultraviolet lithography (EUV) machines, according to two people with knowledge of the project. EUV machines sit at the heart of a technological Cold
AI TALENT: No financial details were released about the deal, in which top Groq executives, including its CEO, would join Nvidia to help advance the technology Nvidia Corp has agreed to a licensing deal with artificial intelligence (AI) start-up Groq, furthering its investments in companies connected to the AI boom and gaining the right to add a new type of technology to its products. The world’s largest publicly traded company has paid for the right to use Groq’s technology and is to integrate its chip design into future products. Some of the start-up’s executives are leaving to join Nvidia to help with that effort, the companies said. Groq would continue as an independent company with a new chief executive, it said on Wednesday in a post on its Web
CHINA RIVAL: The chips are positioned to compete with Nvidia’s Hopper and Blackwell products and would enable clusters connecting more than 100,000 chips Moore Threads Technology Co (摩爾線程) introduced a new generation of chips aimed at reducing artificial intelligence (AI) developers’ dependence on Nvidia Corp’s hardware, just weeks after pulling off one of the most successful Chinese initial public offerings (IPOs) in years. “These products will significantly enhance world-class computing speed and capabilities that all developers aspire to,” Moore Threads CEO Zhang Jianzhong (張建中), a former Nvidia executive, said on Saturday at a company event in Beijing. “We hope they can meet the needs of more developers in China so that you no longer need to wait for advanced foreign products.” Chinese chipmakers are in
RSS