GTSM to launch incubation
The GRETAI Securities Market (GTSM, 櫃檯買賣中心), which operates the over-the-counter market, on Monday said that its new incubation board will open to investment on Jan. 10. The GTSM said the incubation board, which aims to help small companies raise funds, will be launched tomorrow. The launch will see 19 companies disclose information about their fundraising. Investors will then have to wait at least five business days before they can pour funds into the listed enterprises. The 19 companies to be registered on the incubation board will consist largely of cultural and creative enterprises, as well as farming, forestry and fishery businesses, and companies from the biotech and electronics sectors, the GTSM said. They include “green” energy technology firm Neo-Optic Tek Co (聚陽光能), multimedia platform provider Fevolution Innovation Inc (方進化創意整合) and King’s Ground Biotech Co (京冠生物科技).
Auto Server to list on GRETAI
Auto Server Co, a Japanese online used car dealer, is scheduled to launch a primary listing on the local over-the-counter market on Jan. 14. The car dealer operates an online platform, ASNET, that places bids for its members in second-hand car auctions, according to a prospectus it filed with the Taiwan Stock Exchange. The Tokyo-based Auto Server is planning to issue 3.18 million new shares in the listing. The suggested price is from NT$100 to NT$110, it said. In the prospectus, Auto Server said it is capitalized at about NT$121.72 million (US$4 million) and aims to raise about NT$334 million in working capital, based on a tentative share issue price of NT$105. In the first nine months of last year, Auto Server’s net profit was NT$157.46 million, or NT$5.50 per share.