Tingyi to Launch TDR Offering

Taiwan Stock Exchange (“TWSE”) announced today that the Taiwan Depositary Receipts (TDRs) of Tingyi (Cayman Islands) Holding Corp. (“Tingyi”) will start trading on the exchange from 16 December 2009. The Chinese and English symbols of the company, industry, stock code, type of securities and quantity (shares) are outlined in the Annex.

On 31 July 2008, the Executive Yuan passed the “Program for the Relaxation of Taiwan Stock-market Listing by Overseas Enterprises and the Opening of Mainland Chinese Investment in the Taiwan Stock Market” as proposed by the Financial Supervisory Commission, easing restrictions on qualifications for foreign companies to list in Taiwan as well as on the use of capital raised in Taiwan. Since then, six companies have issued TDRs on TWSE (including Want Want China, Ju Teng,  YORKEY OPTICAL, NFA, VMEP Holdings and Solargiga), with Tingyi to become the seventh from 16 December 2009. TWSE will celebrate Tingyi’s TDR-listing with a grand Inaugural Listing Ceremony to mark Tingyi’s achievement, as well as enhance the profile of Taiwan Depositary Receipts and expand their market scale.

To ensure domestic investors are fully aware of trading information related to the primary listing locations of TDRs issuers, TWSE set up a section especially for TDRs on its Market Observation Post System as a reference for investors prior to making investment decisions, an initiative which was well-received. Additionally, as TDRs have become increasingly popular with investors, TWSE plans to develop a refined mechanism for TDR issuance in order to improve the reasonableness and stability of TDR trading.

TWSE continues to encourage the listing of quality foreign and offshore Taiwanese companies in Taiwan. As other major exchanges continue to internationalize, TWSE will commit itself to improving the legal environment of its product issuances and the degree of its free capital flow, and build an open, efficient and internationally competitive listing platform in Asia. At the same time, TWSE will proactively promote Taiwan’s diversified and comprehensive industry structure, as well as the competitive edge of its capital markets, in order to attract quality foreign and offshore Taiwanese companies to list in Taiwan.

The Inaugural Listing Ceremony will be broadcast through the “WebPro Securities and Futures Markets Audio-Visual Website” at 8:25am-9:00am on 16 December. For more details, please refer to the TWSE website at http://webpro.tse.com.tw.

End

About Taiwan Stock Exchange Corporation

Founded in 1961, TWSE works with the Financial Supervisory Commission (FSC) to regulate Taiwan’s stock market, enhance market transparency and improve market infrastructure. It currently offers trading markets for stocks, warrants, Exchange-Traded Funds (ETFs), Taiwan Depository Receipts (TDRs) and corporate bonds.

 

Annex: 

Symbol of Company

Industry

Stock Code

Existing OTC Stock Code

Listed Securities

Business Registration Number

Chinese

English

Type

Quantity (Shares)

康師傅

Tingyi

TDR

910322

NA

TDR

380 million units of TDR (Every 2 units of TDR represent 1 unit of ordinary share)

NA

 

For further details, please contact:

College Hill 

Maggie Chui

Tel: +852-3791-2930

Email: maggie.chui@collegehill.com.hk

Share This Post

Share on facebook
Share on linkedin
Share on twitter
Share on email

More To Explore