Sun, Nov 28, 2010 - Page 11 News List

Schive Chi to join TWSE road show in Silicon Valley

Staff writer, with CNA

Taiwan Stock Exchange Corp (TWSE, 台灣證交所) said yesterday chairman Schive Chi (薛琦) will visit high-tech Silicon Valley firms to encourage them to list on the Taipei bourse.

Schive will take part in a road show in Silicon Valley on Tuesday and Wednesday to brief companies about Taiwan’s capital market and regulations for listings, the exchange said.

The TWSE said the road trip would enhance mutual understanding between the exchange and the foreign firms.

The exchange is determined to help foreign share issuers resolve possible difficulties in fundraising in Taiwan and remove hurdles down the road for listings, in an attempt to boost Taiwan’s visibility in the global financial market, the TWSE said.

It said it is relaxing restrictions on listings by foreign enterprises to compete with its counterparts in the region to solicit foreign firms’ listings. It hopes Taiwan will serve as a tech-rich NASDAQ-like capital market in Asia.

The TWSE said it aims to add the number of Taiwan depository receipt (TDR) issuers to 100 on the main board over the next five years.

As of the end of October, a total of 743 companies, including foreign firms, which made primary listings and TDR issuers, were listed on the main board.

Earlier this month, Schive said the TWSE-listed companies, riding the wave of an economic recovery, are expected to post NT$1.4 trillion (US$45.97 billion) in net profit this year, which would be a record high.

Schive also said the dividend yield is expected to top 4 percent this year on the improving bottom line, higher than the 2.76 percent recorded for last year.

In the first three quarters of this year, the listed companies in the exchange registered NT$732.59 billion in net profit, representing 91.6 percent of the figure posted for the whole of last year.

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