PacAndes: Proposed TDR Listing to raise profile in Taiwan and expand channels for fund raising. Co has appointed Fubon Bank to handle application for the proposed TDR listing. Co expects to issue 456m to 570m new shares approx 16.0-20.0% of issued share cap with 1 TDR for every 2 new shares...
Indicative pricing is at NT$18 per TDR ($0.39 per share, 22% prem)and an application has been submitted to both TWSE and Taiwan's Central Bank. Co has fwd P/E of 7.2x and subsi China Fish trades at approx fwd P/E of 10.6x
No comments:
Post a Comment