Mon, Sep 19, 2011 - Page 11 News List

Hong Kong-based Rotam Global eyes TWSE listing

IPO PLANS:The company plans to issue more than 14 million shares in the listing and hopes to raise about NT$1.2 billion to fund future expansion

Staff Writer, with CNA

Rotam Global AgroSciences Ltd (龍燈環球農業科技), a Hong Kong-based agrochemical company, has filed an application with the Taiwan Stock Exchange (TWSE) for a primary listing on the main board, the exchange said on Saturday.

The TWSE said Rotam, which was incorporated in the Cayman Islands in 2009 and is capitalized at NT$1.06 billion (US$35.83 million), was the 12th foreign company to seek a primary listing on the exchange this year.

The firm’s Web site says the company is engaged in manufacturing, R&D, product registration, marketing and technical support with products, including herbicides, insecticides, fungicides, growth regulators and plant nutrients.

The company is also involved in seed biotechnology and is developing genetically modified crops.

In its prospectus, Rotam said it is planning to issue 14.14 million shares for the listing and expects to raise about NT$1.2 billion in working capital for future expansion.

The issue price has tentatively been set at NT$85, the company said, adding it aims to complete the fundraising by the end of the first quarter of next year.

Rotam said it would assign part of the funds to research and development to increase the number of product registrations. At the end of June, the company has secured 680 product registrations, compared with 556 recorded as of the end of 2009.

In addition to its Hong Kong headquarters, Rotam has a research and development base in Kunshan, Jiangsu Province, China.

Its global network sell its products in more than 60 countries and it owns distribution centers in Brazil, Argentina, Colombia, Chile, Mexico, the US and the UK.

Rotam posted NT$468.44 million in net profit on a consolidated basis last year, with an earnings per share of NT$4.61. In the first half of this year, its net profit totaled NT$201.55 million with an EPS of NT$1.90.

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