Mon, Aug 29, 2011 - Page 11 News List

TWSE to urge Japanese firms to list in Taiwan

CNA, with Staff Writer

The Taiwan Stock Exchange (TWSE) said on Saturday that Taiwan Stock Exchange chairman Schive Chi (薛琦) would meet with representatives from Japanese companies in Tokyo this week to try to sell them on launching stock listings in Taiwan.

Schive, who will join a delegation organized by the Council for Economic Planning and Development (CEPD) on a visit to Tokyo and Osaka, will preside over a conference scheduled for tomorrow to brief Japanese participants on the workings of Taiwan’s bourse.

The delegation of 226 members, including local business heavyweights in sectors such as manufacturing, financial services and property development was to leave for Japan yesterday.

In addition to tomorrow’s conference, Schive will visit several Japanese companies during the four-day trip.

According to the TWSE, the exchange has made an effort to introduce Taiwan’s fund-raising environment to Japan’s business sector for more than two years, and the efforts have been well received.

The exchange hopes that by developing a presence in Taiwan, Japanese firms can forge better ties with their Taiwanese counterparts for future cooperation.

In February, Japan-based Elpida Memory Inc, the world’s third-largest memory chip maker, issued Taiwan depositary receipts (TDRs) on the main board.

The TWSE cited securities underwriters, accountants and lawyers as saying Japanese business circles had showed considerable interest in the possibility of launching listings in Taiwan.

So far, a total of 41 foreign companies have listed in Taiwan, with 31 issuing TDRs and 10 opting for primary listings.

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