J.P. Nelson Holdings, a Singapore-based machinery distributor, said yesterday it was planning to list on Taiwan’s over-the-counter (OTC) market, hoping to increase its visibility and position to take advantage of China’s market.
J.P. Nelson said it expected to file an application with financial authorities in the third quarter of this year to obtain approval for the listing.
The Singaporean firm, which sells and leases equipment for the engineering, construction, shipbuilding and oil industries, is scheduled to list itself as an emerging stock today.
Under local listing regulations, a private company is required to list itself on the emerging market first in preparation for a listing on the OTC market or on Taiwan’s main board.
J.P. Nelson serves as an agent for equipment made by multinational firms, such as hydraulic vibro hammer and piling extracting equipment maker ICE-PVE, welding equipment manufacturer Newarc and pneumatic tool and equipment supplier Macdonald Air Tools.
The company, which also provides maintenance services to its clients, earns about two-thirds of its revenue in Singapore and the rest overseas, according to its prospectus.
Through the listing in Taiwan, the company said, it would be better positioned to take advantage of closer cross-strait ties and it would seek partners to penetrate the Chinese market.
J.P. Nelson, which is currently capitalized at about NT$500 million (US$17.2 million), plans to raise its paid-in capital to NT$550 million after the emerging market listing.