Fri, Jul 29, 2011 - Page 11 News List

Light guide plate producer’s shares jump on debut

Staff Writer, with CNA

Shares of Cayman Islands-registered Global Lighting Technologies Inc (茂林光電), a light guide plate maker, made a strong showing yesterday on its first day of trading on the Taiwan Stock Exchange, dealer said.

The strong debut came amid optimism about the effect of a peak season in the third quarter, dealers said.

Global Lighting Technologies, which launched a primary listing as a foreign company on the main board, rose 28.2 percent from its issue price to close at NT$64.10, while the TAIEX was down 0.57 percent at 8,767.20 points.

The issue price of NT$50 appeared attractive to many investors on a relatively low valuation, compared with the company’s bottom line, and such enthusiasm helped the stock buck the downside trend on the broader market during the trade, dealers said.

The market expects the firm will post earnings per share of more than NT$6 this year after an EPS of NT$2.2 recorded for the first half of the year.

Operating production bases across the Taiwan Strait, Global Lighting provides light guide plates for LED lighting equipment, LED TVs, keyboards and keypads for notebook computers and smartphones and other consumer electronics products.

In addition, the company has a subsidiary in the US in charge of sales and marketing.

The company has facilities in Chinese cities such as Shanghai and Suzhou, and a new plant in Zhongshan, Guangdong Province, is scheduled to start production in the fourth quarter.

Among Global Lighting’s major customers are Taiwan-based Unity Opto Technology Co (東貝光電) and Japan’s Toshiba Corp.

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