Foreigners buy NT$30.69bn
Foreign investors last week bought a net NT$30.69 billion (US$1.1 billion) of local shares after buying a net NT$21.68 billion the previous week, the Taiwan Stock Exchange said in a statement yesterday. As of Friday, foreign investors had sold an accumulated NT$510.25 billion of local shares since the beginning of the year, the exchange said. Last week, the top three shares bought by foreign investors were China Airlines Ltd (中華航空), EVA Airways Corp (長榮航空) and China Development Financial Holding Co (中華開發金控), while the top three sold were Innolux Corp (群創), Chung Hung Steel Corp (中鴻鋼鐵) and Taiwan Glass Industry Corp (台灣玻璃), the exchange said. As of Friday, shares held by foreign investors accounted for 43.68 percent of total market capitalization, it said.
Shinfox gains on debut
Shinfox Energy Co (森崴能源) shares yesterday rose in the company’s Taiwan Stock Exchange trading debut, following a well-received share sale. Shares of the company opened at NT$116 and rose to NT$125 before closing at NT$117. That is a 12.07 percent increase over its initial offering price of NT$104.4 per share. Shinfox provides renewable energy power plant construction and maintenance, clean energy import, green electricity trading, energy storage device technology development and other services. The New Taipei City-based firm reported net profit of NT$265 million in the first half of this year, with earnings per share of NT$2.47.
Taipower approves bonds
Taiwan Power Co’s (Taipower, 台電) board of directors last week approved a proposal to issue NT$13.7 billion of unsecured common corporate bonds, of which NT$2 billion of bonds are certified as green bonds. The green bonds would be used to fund renewable energy projects, including small hydropower plants, wind farms and geothermal projects, Taipower said. The bonds would be issued next month in three tranches: a five-year tranche of NT$5.8 billion with a coupon rate of 0.57 percent, a seven-year tranche of NT$5.9 billion with 0.62 percent and a 10-year tranche of NT$2 billion with 0.69 percent, Taipower said.
Mega to expand in Cambodia
State-run Mega International Commercial Bank (兆豐銀行) has won Financial Supervisory Commission approval to establish an outlet in Cambodia, as part of its efforts to expand in the Southeast Asian country. The lender has five outlets near the capital, Phnom Penh. The new outlet in Kandal would help the bank take advantage of the country’s fast-growing economy and gain clients, it said last week. Its Cambodian branches and outlets reported profit grew 20 percent year-on-year in the first 10 months of this year, the bank said.
COVID-19 policy sales fall
Sales of COVID-19 insurance policies last month fell to 286,857 units as local infections slowed, Financial Supervisory Commission data showed last week. Sales reached a peak of 6.5 million units in June. Sales of COVID-19 vaccine insurance also dropped to 313,655 units last month, compared with a peak of 640,000 units in June, data showed. In the first 10 months, cumulative sales of COVID-19 insurance were 9.19 million units with combined premiums of NT$7.2 billion, while those of vaccine insurance policies were 3.56 million units with total premiums of NT$1.03 billion.
PharmaEssentia Corp (藥華醫藥) shares have jumped 80.56 percent since the company obtained a US polycythemia vera (PV) drug license for its new interferon drug Besremi (ropeginterferon alfa-2b-njft) on Nov. 12. Shares on Friday closed at NT$195 in Taipei trading, up from the stock’s closing price of NT$108 on Nov. 12. PV is a rare, chronic and life-threatening blood cancer linked to a stem cell mutation in the bone marrow that results in an overproduction of blood cells and places sufferers at risk of having a blood clot, stroke or heart attack. PharmaEssentia is preparing to make Besremi available in the US in the
The US$410 DeliSofter pot looks much like the rice cookers ubiquitous in Japanese households and it does prepare rice in 24 minutes. However, this invention of two Panasonic Corp engineers is designed to do more and help people with swallowing difficulties. The two women led the creation of a spin-off company, Gifmo Co, to sell the specialized steam cooker, which they say can turn fried chicken soft enough to be sliced with a potato chip. The machine works by first cutting into food with a series of blades and then subjecting it to extremely high pressure at a temperature of 120°C,
Google’s Irish subsidiary has agreed to pay 218 million euros (US$244.94 million) in back taxes to the Irish government, company filings showed on Thursday. The US tech giant, which had been accused of avoiding tax across Europe through loopholes known as the “Double Irish, Dutch Sandwich,” said it had “agreed to the resolution of certain tax matters relating to prior years.” Google Ireland Ltd said it would pay corporation tax of 622 million euros for last year, including the 218 million euros of backdated tax settlement and interest charges. The previous year, Google Ireland paid taxes of 263 million euros. The company, which is
Ginko International Co (金可國際), the nation’s biggest maker of contact lenses, yesterday said that its board of directors approved a takeover bid of NT$27.18 billion (US$976.43 million) by Glamor Vision Ltd and its subsidiary Glamor International Ltd. The Glamor offer was to buy all 97.07 million Ginko shares for NT$280 each, Ginko said in statement submitted to the Taiwan Stock Exchange. That represents a premium of 38.61 percent compared with Ginko’s closing price of NT$202 on Thursday. After the transaction, Ginko would become a private company, with all shares delisted from Taipei Exchange, the statement said. The firm’s global headquarters in Taichung and its