12 enterprises postpone initiative to issue TDRs


CNA

TAIPEI–Twelve enterprises have temporarily withdrawn their applications to issue Taiwan depository receipts (TDRs) to raise fund amid a global stock slump, Taiwan Stock Exchange Chairman Schive Chi said Saturday.

Schive said that although the enterprises have confidence in Taiwan’s capital market, they have temporarily put their plans to issue TDR on hold, in consideration of their current stock prices.

Currently, 32 foreign enterprises, mainly listed in Hong Kong, have issued TDRs in Taiwan. Thirteen of them are Taiwan-funded, while the others are funded in China, Hong Kong and Singapore.

Last year, the fever to issue TDRs reached a peak, with companies such as Elpida Memory Inc., Japan’s largest maker of computer memory chips, joining the trend.