The Hong Kong-listed Fantasia Holdings Group Ltd (花樣年控股集團) has submitted its application with Taiwan’s central bank and stock exchange to seek a secondary listing on the local bourse by issuing Taiwan Depository Receipts (TDR).
The Cayman Islands-registered property developer and property-related services provider made the announcement in a filing with Hong Kong Exchanges and Clearing Ltd yesterday.
MILLIONS OF UNITS
The company said it planned to issue up to 120 million TDR units in Taiwan and up to 240 million of its new common shares, meaning that each TDR represents 2 common shares in Fantasia Holdings, the filing showed.
FIRST DEVELOPER
Taiwan Stock Exchange (TWSE, 台灣證交所) said yesterday it had received the TDR application, adding that Fantasia Holdings would be the first overseas property developer to trade its shares in Taiwan, if the company receives green light from the TWSE, the central bank and the Financial Supervisory Commission’s Securities and Futures Bureau.
The company said it had not decided yet what the issue price per TDR would be. However, it said it would use all proceeds raised from the sale of TDRs to establish a Taiwan subsidiary and spend about NT$1.2 billion (US$39 million) in tourism development in the outlying island of Kinmen.
KINMEN PROJECT
“The board intends to use the net proceeds from the TDR issue to cooperate with Astro Corp (泰偉電子) and jointly develop a tourism and vacation resort in Kinmen,” the filing said.
Jih Sun Securities Co (日盛證券) will serve as Fantasia Holdings’ underwriter to manage the TDR sale.
Among the rows of vibrators, rubber torsos and leather harnesses at a Chinese sex toys exhibition in Shanghai this weekend, the beginnings of an artificial intelligence (AI)-driven shift in the industry quietly pulsed. China manufactures about 70 percent of the world’s sex toys, most of it the “hardware” on display at the fair — whether that be technicolor tentacled dildos or hyper-realistic personalized silicone dolls. Yet smart toys have been rising in popularity for some time. Many major European and US brands already offer tech-enhanced products that can enable long-distance love, monitor well-being and even bring people one step closer to
Malaysia’s leader yesterday announced plans to build a massive semiconductor design park, aiming to boost the Southeast Asian nation’s role in the global chip industry. A prominent player in the semiconductor industry for decades, Malaysia accounts for an estimated 13 percent of global back-end manufacturing, according to German tech giant Bosch. Now it wants to go beyond production and emerge as a chip design powerhouse too, Malaysian Prime Minister Anwar Ibrahim said. “I am pleased to announce the largest IC (integrated circuit) Design Park in Southeast Asia, that will house world-class anchor tenants and collaborate with global companies such as Arm [Holdings PLC],”
Sales in the retail, and food and beverage sectors last month continued to rise, increasing 0.7 percent and 13.6 percent respectively from a year earlier, setting record highs for the month of March, the Ministry of Economic Affairs said yesterday. Sales in the wholesale sector also grew last month by 4.6 annually, mainly due to the business opportunities for emerging applications related to artificial intelligence (AI) and high-performance computing technologies, the ministry said in a report. The ministry forecast that retail, and food and beverage sales this month would retain their growth momentum as the former would benefit from Tomb Sweeping Day
Thousands of parents in Singapore are furious after a Cordlife Group Ltd (康盛人生集團), a major operator of cord blood banks in Asia, irreparably damaged their children’s samples through improper handling, with some now pursuing legal action. The ongoing case, one of the worst to hit the largely untested industry, has renewed concerns over companies marketing themselves to anxious parents with mostly unproven assurances. This has implications across the region, given Cordlife’s operations in Hong Kong, Macau, Indonesia, the Philippines and India. The parents paid for years to have their infants’ cord blood stored, with the understanding that the stem cells they contained