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Yangzijiang to list Taiwan Depository Receipts

Yangzijiang to list Taiwan Depository Receipts

Taipei: Singapore-listed Yangzijiang Shipbuilding is planning to list up to 100m new shares as Taiwan Depository Receipts. The listing of the new shares would be equivalent to 2.74% of the company's current shareholding. "Additional funds raised will help to boost Yangzijiang's war-chest to pursue potential earning-accretive merger & acquisition activities, strategic investments and strengthen its working capital position," the company said. By listing in Taiwan it said it would also broaden and diversify its shareholder base. [24/05/10]

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