Japan chip-maker Elpida Memory lists TDRs


TAIPEI — Japanese memory chip-maker Elpida Memory Inc. officially listed Taiwan depository receipts (TDRs) on the Taiwan Stock Exchange (TWSE) yesterday.

A total of 200 million TDRs priced at NT$21.30 (US$0.73) each were offered. Each TDR represents 0.05 common shares of the company.

Elpida shares opened at NT$21.5 on the first trading day of its TDRs Friday. The price reached a high of NT$21.8 in mid-session.

The TDR listing is the first by a Japanese company and the 24th by a foreign-registered company.

Also Friday, TWSE Chairman Schive Chi said he will visit Japan next month to promote the listing of TDRs in Taiwan by more Japanese companies.

According to the TWSE, 47 local companies are planning to make initial public offerings on the Taiwan Stock Exchange this year, while 15 to 20 foreign companies are expected to list their shares on the main board.