TWSE OKs China-based property developer listing


CNA

TAIPEI–The Taiwan Stock Exchange (TWSE) said Thursday it has approved an application filed by China-based property developer Sino Horizon Holdings Ltd. to launch a primary listing on the main board.

Sino Horizon, which was set up by the family of Advanced Semiconductor Engineering (ASE) Chairman Jason Chang and registered in the Cayman Islands, is engaged in property development in major Chinese cities, such as Shanghai, Beijing and Chongqing, according to the company’s prospectus.

Its business includes development and sale of both residential and commercial properties, as well as property leasing and management in the China market, Sino Horizon said in the prospectus.

The prospectus showed Chang currently owns a 30 percent stake and his younger brother Richard Chang, who is the president of ASE, holds another 30 percent stake in Sino Horizon, which is capitalized at NT$16.8 billion (US$560 million).