A Japanese electronics manufacturer is expected to issue Taiwan depositary receipts (TDR) on the local bourse this year, Taiwan Stock Exchange Corp (TWSE) Chairman Schive Chi (薛琦) said yesterday.
Representatives of the Japanese company, which Schive would not identify, recently visited the stock exchange to explore the feasibility of listing in Taiwan by issuing TDRs.
The bourse has set a goal of attracting 20 overseas companies to list in Taiwan this year, but to date, only four enterprises have completed their listings, while another three — Hong Kong-based Lerado Group (隆成), Heng Tai Consumable Group Ltd (亨泰) and Singapore-based Super Group Ltd (超級集團) — have applied to issue TDRs, the stock exchange chairman said.
Schive expects interest to pick up in the second half of the year, because in addition to the Japanese electronics company, several Singaporean enterprises have also expressed interest in applying to list on Taiwan’s bourse.
The stock exchange is also considering relaxing its rules to allow red-chip companies — Chinese companies incorporated outside of China — to list TDRs, and Schive said several such companies have shown interest in the idea, but he did not disclose their names.
He said, however, that applicable regulations for such a move had yet to be finalized.
Schive also proposed for the first time that in the future, Taiwan and China could include the actual guidelines on companies listing in each other’s market as part of an economic cooperation framework agreement (ECFA), which is still under negotiation.
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