Twenty-seven firms launched initial public offerings (IPO) in the first six months of this year, raising a combined NT$28.85 billion (US$970.53 million), a significant advance from 14 deals amassing NT$14 billion in the same period last year, Ernst & Young Taiwan said yesterday.
The pickup was linked to easing COVID-19 pandemic restrictions and came even though the TAIEX has had a rough time due to selling among foreign portfolio managers to cope with global monetary tightening, Ernst & Young said.
Technology and biotechnology firms were among the debuts, as Taiwan is home to the world’s largest electronics suppliers and the government is shoring up the biotechnology industry, the consultancy said.
Image sensor provider VisEra Technologies Co (采鈺), a spinoff of Taiwan Semiconductor Manufacturing Co (台積電) that had its debut yesterday, topped the survey of newly listed Taiwan Stock Exchange firms by raising NT$6.74 billion, or 29.31 percent of the total, it said.
VisEra shares yesterday closed at NT$334, a 15.17 percent rise, bucking the TAIEX’s 2.72 percent fall.
UPI Semiconductor Corp (力智科技), which provides high power density semiconductor solutions, was second on the list with a 22.8 percent share of the total, Ernst & Young said.
Technology firms accounted for 33 percent of new players on the Taipei Exchange, the local bourse for companies with small or medium capitalizations, it said.
Ernst & Young said that it remains guardedly optimistic about the IPO market, with the TAIEX likely to consolidate at about 15,000 points in the near term amid turbid economic times.
Nearly 30 companies have debuted on the Taipei Exchange since the start of last month, led by biotechnology players, despite a local outbreak of COVID-19, Ernst & Young said, adding that favorable legislation last year would support the development and operations of such firms.
British Prime Minister Rishi Sunak’s government should take steps to cut UK reliance on semiconductors from Taiwan because of the threat posed by China, a draft strategy said. Chinese interference or an invasion of Taiwan would threaten Britain’s economy, according to the unpublished strategy seen by Bloomberg. That is because it would compromise supplies to and from Taiwan, which is home to more than 90 percent of the manufacturing capacity for all leading-edge chips, including the world’s pre-eminent silicon foundry, Taiwan Semiconductor Manufacturing Co (台積電). The strategy is important because semiconductors are used in everything from cellphones to cars, and shortages have
BIG SPENDERS: China’s reopening is a key ‘mega-theme’ for the sector, RBC Bank said, but it remains to be seen how much Chinese tourists will buy The European luxury sector is welcoming the end of pandemic lockdowns in China, as the return of big-spending Chinese tourists could sustain further growth. Prior to the pandemic, Chinese tourists visiting Europe were a major source of sales for luxury houses. The Chinese accounted for “a third of luxury purchases in the world and two-thirds of those purchases were made outside China”, said Joelle de Montgolfier, head of the luxury division at management consulting firm Bain & Co. Their return has led RBC Bank to revise up its growth forecast for the sector this year to 11 percent, from 7 percent previously. “China
‘IT HURTS TOO MUCH’: After talks between Blizzard and NetEase over their contract broke down, servers hosting Blizzard’s games in China were shut down Millions of Chinese gamers have lost access to World of Warcraft after a furious dispute between US title owner Activision Blizzard Inc and NetEase Inc (網易), its longtime local partner in the world’s biggest gaming market. Devotees of the popular game took to social media networks to bemoan the loss, with one posting an image of a failed connection message accompanied by crying emojis. “It really hurts my heart,” one wrote. “It hurts, it hurts too much,” another said. Massively popular worldwide, particularly in the 2000s, World of Warcraft — often abbreviated as WoW — is an online multiplayer role-playing game set in
The US Department of Justice (DOJ) on Tuesday accused Alphabet Inc’s Google of abusing its dominance in digital advertising, threatening to dismantle a key business at the heart of one of Silicon Valley’s most successful Internet firms. The US government said Google should be forced to sell its ad manager suite, tackling a business that generated about 12 percent of Google’s revenues in 2021, but also plays a vital role in the search engine and cloud company’s overall sales. “Google has used anticompetitive, exclusionary, and unlawful means to eliminate or severely diminish any threat to its dominance over digital advertising technologies,” the