TransAsia Airways Corp (復興航空), one of the nation’s international air carriers, is set to list on the Taiwan stock exchange on Nov. 1, making it the third air carrier to list on the local bourse along with China Airlines Ltd (中華航空) and EVA Airways Corp (長榮航空).
“Despite the recent stock market tumble, we decided not to delay the company’s listing date because of our confidence in TransAsia,” company chairman Vincent Lin (林明昇) told a media briefing after the company held an investors’ conference yesterday.
The company’s reasonable offering price may stand between NT$14.42 and NT$18.53, based on the average of its price-to-earnings ratio in the past three months, underwriter Capital Securities Corp (群益證券) said in a statement.
However, the offering price may range between NT$17.4 to NT$24.27, considering the average of TransAsia’s price-to-book ratio over the past three months, the statement said.
The air carrier plans to raise about NT$1.2 billion (US$39,1 million), or 100 million shares, in private equity capital before it lists on the local bourse.
Lin refused to reveal the investor’s name or further details about the matter.
TransAsia posted a profit for the first six months of NT$409 million, or NT$0.72 per share, compared with a profit of NT$964 million, or NT$1.91 per share, in the same period last year, the company’s data showed.
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