Shares of FDC International Hotels Corp (FDC, 雲品國際), which operates a resort hotel and one restaurant, yesterday traded at an average of NT$68.63 during its debut on the Emerging Stock Market, 3.98 percent higher than the initial offering price of NT$66 per share amid the high season for the hospitality industry.
The bourse is a preparatory board for the nation’s two main bourses: the Taiwan Stock Exchange and the Taipei Exchange.
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Trading on the smaller board is restricted to securities firms by means of negotiation and therefore initial public offerings are not open to public subscription.
FDC revenue more than doubled to NT$867 million (US$26.5 million) for the first nine months of the year, outpacing NT$638 million for the whole of last year, thanks to the opening in October last year of a seafood buffet restaurant in New Taipei City’s Sinjhuang District (新莊).
FDC posted NT$105 million in net income last year, or earnings per share of NT$2.35, according to company data.
The Taipei International Travel Fair, which is to run from Friday to Monday next week, is also likely to benefit FDC, as the annual trade show could attract 350,000 visitors and facilitate NT$2 billion worth of sales, the company said.
The government’s planned travel subsidy might lend further support to the industry, although the overall impact remains to be seen, economists said.
FDC is a spinoff of L’Hotel de Chine Group (LDC, 雲朗觀光), the owner of Palais de Chine (君品酒店), Maison de Chine (兆品酒店), Chateau de Chine (翰品酒店) and Chinatrust Hotels (中信旅館).
FDC has capital of NT$600 million and is chaired by Emile Sheng (盛治仁), who is also LDC Group president.
Currently, FDC runs the Fleur de Chine Hotel (雲品溫泉酒店), the flagship resort establishment situated at the northern peninsula of Sun Moon Lake that features 211 guest rooms.
FDC is set to open a restaurant, Giardino in Sinhjuang later this month.
The restaurant is more than 2,000 ping (6,612m2) and can host 380 tables, the company said.
The performance of FDC shares is stronger than the tourism sector, which declined 0.59 percent yesterday, according to Taiwan Stock Exchange statistics.
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