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Yangzijiang Shipbuilding set for Taiwan debut on September 8

Yangzijiang Shipbuilding set for Taiwan debut on September 8

Taipei: China's Yangzijiang Shipbuilding plans to sell shares in Taiwan next month, making it the first mainland firm to be traded on the island's bourse, the chief underwriter said on Friday. China's fourth largest shipmaker aims to raise up to 4.5 billion Taiwan dollars (140 million US) via Taiwan Depositary Receipts (TDRs), said Jeff Wen, a project manager at SinoPac Securities handling the deal.?The company intends to sell 240 million TDRs, or 120 million of its shares, with the price range between 17 and 19 Taiwan dollars each, he said. It is aiming to list on September 8.?"The response is very enthusiastic as Yangzijiang will be the first Chinese firm to be listed in Taiwan," he said. [30/08/10]

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