China’s Yangzijiang Share Sale ‘Milestone’ for Taiwan
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The Taiwan Stock Exchange said a Chinese-owned company will sell shares in the island for the first time next month, paving the way for China stock listings and underscoring improving ties between the two economies.
Yangzijiang Shipbuilding Holdings Ltd., China’s fourth-biggest shipbuilder whose shares are traded in Singapore, may raise as much as NT$4.56 billion ($143 million) from listing Taiwan depositary shares, according to its main underwriter SinoPac Securities Co. The price range of the offering is between NT$17 and NT$19 for 240 million TDRs and the securities will be sold from today until Tuesday, according to SinoPac.