Want Want China plans to make a second listing in Taiwan on April 28, becoming the first such firm to return to its home market to list under relaxed regulations, an industry source said on Monday.
The food and beverage company is proposing a price range of T$12.50 ($0.37) to T$15.50 for institutional investors, but has yet to set a final price for the $100 million Taiwan Depositary Receipt (TDR) offering, said the source speaking on condition of anonymity.
Want Want China's TDR would be the biggest IPO on the island in the first half of the year, the source said.
Many Taiwan firms have listed in Hong Kong and Singapore in the past due to previous restrictions that kept them from listing in Taiwan if a large portion of their assets were based in China.
But under the administration of President Ma Ying-jeou, who became president last May, many of those restrictions have been eased or scrapped in a bid to help boost the island's economy.
Want Want China booked a net profit of $262.7 million in 2008, up 30 percent from 2007. Sales rose 42 percent to $1.55 billion last year.
Want Want China's shares jumped 1.8 percent on Thursday, lagging a near 3 percent rise on the big board .HSI. Hong Kong's stock market was closed last Friday and Monday due to a national holiday.
Schive Chi, the chairman of Taiwan's Stock Exchange, said last month he expects 20 more Taiwan firms to use more liberal rules to seek domestic listings which could raise an extra $2 billion in capital.
He said measures introduced last summer to encourage more Taiwan firms to list at home had attracted 12 firms so far. [ID:nHKG141931]
Other companies that have announced their intent to make a dual listing back in Taiwan include Foxconn International (2038.HK: Quote, Profile, Research, Stock Buzz).
(Reporting by Jeanny Kao; writing by Doug Young and Baker Li; Editing by Nick Macfie)