TWSE planning 45 IPOs
The Taiwan Stock Exchange (TWSE, 台灣證交所) said yesterday it is planning to push for 45 initial public offerings (IPO) on the main board this year to boost the overall market capitalization.
TWSE chairman Schive Chi (薛琦) said the number of planned IPOs is expected to hit a 10-year high in the history of the local stock market.
Last year, a total of 21 local companies, mostly from the high-tech sector, launched their IPOs on the local stock market. They included four optoelectronics firms, three semiconductor manufacturers and three bitotech companies, according to the TWSE.
As of Friday, market capitalization of the local bourse totaled NT$23.83 trillion (US$822 billion), making the local stock market the fifth largest in Asia.
Currently, a total of 755 domestic companies are listed on the main board, while 29 foreign companies have so far issued Taiwan depositary receipts and seven foreign firms have launched their primary listings on the TWSE.
Ruen Chen declines to comment
Ruen Chen Investment Holding Co (潤成投資控股), the winning bidder for American International Group Inc’s life insurance unit in Taiwan, yesterday declined to comment on whether it has met all the terms required of the share transfer application set by the Financial Supervisory Commission.
The consortium, created for the acquisition attempt and comprised of Ruentex Industries Ltd (潤泰全球), Ruentex Development Co (潤泰創新) and Pou Chen Corp (寶成工業), filed additional documents on Monday to demonstrate its long-term commitment and financial clout, the commission said.
“We will not comment on the issue while awaiting regulatory review,” Ruen Chen chairman Cheng Chuan-tai (鄭銓泰) said by telephone.
The commission has promised to reach a decision in the first half of the year.
Ford production stoppage starts
Ford Lio Ho Motor Co (福特六和), a Taiwanese subsidiary of the US-based Ford Motor Co, said yesterday that a temporary production suspension announced by its US parent company will not affect any deliveries.
The company said the two-week suspension is part of a “production capacity adjustment plan.”
The company added that it usually suspends production during the summer, but has moved the regular suspension earlier this year to assess and adjust its production capacity.
The Ford plant in Taiwan — which makes the Focus, Mondeo, Escape, Econovan, Mazda 3 and Mazda 5 models — started its suspension yesterday. The suspension will end on May 8.
Far EasTone plans share sale
Far EasTone Telecommunications Co’s (遠傳電信) board plans to ask shareholders to authorize it to sell 444.3 million shares for NT$17.8 billion, or NT$40 a share, to China Mobile Ltd’s (中國移動) wholly-owned Taiwanese unit in a private placement, the Taipei-based phone company said in an exchange statement yesterday. The deal needs regulatory approval.
Mega Financial approves plan
Mega Financial Holdings Co’s board (兆豐金控) approved a plan to sell Taiwan Business Bank (臺灣企銀) shares through exchangeable bonds, the shareholder said in a stock exchange statement yesterday. Details are yet to be decided, Mega Financial said.
NT dollar inches lower
The New Taiwan dollar fell against the US dollar yesterday, down NT$0.009 to close at NT$28.939.
Turnover totaled US$726 million during the trading session.
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