Taiwan depositary receipts (TDRs) of HISAKA Holdings Ltd, a mechanical device provider based in Singapore, had a good first day on the Taiwan Stock Exchange (TWSE, 台灣證券交易所) yesterday, on positive sentiment about its earnings outlook, dealers said.
HISAKA closed up 7 percent, the maximum daily increase, at NT$12.70, with 4.96 million shares changing hands.
“HISAKA specializes in precision mechanical devices, in particular automation and medical equipment, and enjoys stable growth in revenue,” Grand Cathay Securities (大華證券) analyst Mars Hsu (徐振家) said.
On its Web site, the company says it operates three manufacturing divisions, producing mechanical motion and metallic precision devices and providing mechanics integration services.
Last year, the company generated 71.29 percent of its revenue from markets in East Asia and 28.23 percent from Southeast Asia and South Asia.
Several high-tech firms such as United Microelectronics Corp (聯電) and Delta Electronics Inc (台達電) are the buyers of HISAKA’s products. The company has also been working closely with Taiwanese linear-motion product suppliers such as Hiwin Technologies Corp (上銀科技) and ChiefTek Precision Corp (直得科技).
HISAKA issued 60 million TDRs, each one of which represents one common share of the company, which has been listed on the Singapore Exchange (SGX) since 2005. The issue price was set at NT$11.90 per TDR to raise about NT$238 million (US$8.24 million) to develop a portable blood warmer system, which it expects to start shipping the first quarter of next year.
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