Sampo Corp (
Sampo, a home appliance maker, expects a listing in Hong Kong by next year, said Gary Chen (
Chunghwa Picture Tubes Ltd (
The administration of President Chen Shui-bian (陳水扁), as part of its second-term policies, said it was looking at allowing Taiwanese companies to sell shares locally in their China operations. The government has yet to act.
"Making it easier for China-based Taiwan companies to list in Taiwan isn't a priority," said Jerry Huang (黃顯華), commissioner of the newly created Financial Regulatory Commission. "Our priority now is regulating and governance of [locally] listed companies."
Chunghwa Picture would join Unilever NV, Royal Philips Electronics NV, HSBC Holdings Plc and other companies that have said they would like to raise money by listing their China units in the country. Share sales in China, a country of 70 million investors, usually draw far more applications than stock on offer. Stocks on the Shanghai Composite Index trade on average at 28 times earnings, compared with a multiple of 18 on the TAIEX.
Chunghwa Picture is seeking regulatory authority in China to sell at least 600 million new shares in its CPTF Optronics Ltd (
Sampo's three units in China, which make products such as refrigerators and their components, had about 1 billion yuan (US$120.8 million) in sales last year and pretax profit of 63 million yuan, the company said in February.
Sampo more than two years ago formed a marketing alliance with Qingdao Haier Group Co (
Other Taiwan companies such as First International Computer Inc (
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