Japan’s Auto Server set for Taiwan IPO by end of next year


CNA

TAIPEI — Japan’s largest business-to-business (B2B) e-commerce platform for used cars, Auto Server Co., is set to make an initial public offering (IPO) in Taiwan for the first time by the end of 2012, its underwriter said yesterday. The Tokyo-based Auto Server and Taiwan’s Yuanta Securities Co. signed an advisory agreement on stock listing at a press conference in Taipei, saying it was the first step toward a win-win situation. Auto Server, established in 1997, has 6.3 million used cars in its Japan database, accounting for 80 percent of the market share there. It plans to duplicate its successful operation model in the greater China region. “We firmly believe e-commerce will grow dramatically in the future, and China is the icon of the Asia-Pacific region,” said Toshihito Hagiwara, chairman of Auto Server.

“And Taiwan is the first choice of Japanese companies that would like to have overseas listings,” he added.

Yuanta Securities Chairman Shen Ting-chien said the company viewed the move as a stepping stone and would like to “assist more quality companies, especially from Japan, to apply for IPOs in Taiwan.”