Double Bond Chemical Ind Co Ltd (雙鍵化工) shares yesterday soared 39.58 percent on its debut on the Taiwan Stock Exchange (TWSE).
The company supplies specialty chemicals worldwide.
The shares jumped to an intraday high of NT$69.4 from its initial public offering (IPO) price of NT$48 before closing at NT$67.
The issuance of about 6.45 million shares boosted its paid-in capital from NT$634 million (US$21.42 million) to NT$698 million, market data showed.
Since 1994, it has manufactured additives for plastics and coatings for customers in various industries, such as UV absorbers, PVC stabilizers and textile auxiliaries.
At a pre-IPO presentation last month, the company predicted strong growth momentum in its digital textile printing sector, as its inks are suitable for a wide range of materials, ranging from wool to synthetic fibers.
The digital printing ink segment contributes 10 percent to the company’s total sales — compared with 55 percent for plastic additives and 35 percent for UV curing materials, but the percentage could expand in coming years, the company said.
Double Bond said it has obtained certification from Kyocera Corp, a Japan-based multinational ceramics manufacturer that makes high-end printheads for digital printers.
To secure more orders, the company plans to allocate more resources to the research and development of digital printing related products, including water-based light fastness enhancer and fluoride-free water repellent.
In the first three quarters of last year, net profit rose 33.75 percent annually from NT$207.29 million to NT$277.26 million, with earnings per share increasing to NT$4.38, from NT$3.36 a year earlier.
Sales over the period grew 5.1 percent from NT$2.94 billion to NT$3.09 billion, while gross margin increased from 22.1 percent to 23.24 percent.
The company attributed the good performance to strong demand and higher prices in China, which accounts for about 60 percent of its total sales.
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