Central News Agency
2010-07-28
Taipei, July 28 (CNA) The Financial Supervisory Commission (FSC) said Wednesday it has given approval for Yangzijiang Shipbuilding (Holdings) Ltd. of China to issue Taiwan depository receipts (TDRs).
Yangzijiang Shipbuilding is the first Chinese company to obtain approval to raise funds on the Taiwan market, amid warming ties across the Taiwan Strait.
Yangzhijiang is planning to issue 240 million units of TDRs, which will each represent 0.5 shares.
The FSC said Yangzijiang will issue 100 million new shares and its major shareholder Mediterranean Success Group Inc. will unload 20 million of the shares it now holds. more …
