Taiwan High Speed Rail Corp. plans to list on the Taiwan Stock Exchange (TWSE). The company is planning to issue 23 million new shares in the listing and has tentatively set the issue price at NT$11.50 (USD0.3), which would generate about NT$264.5 million (USD7.4 million) in new funds. The proceeds from the new share sale are expected to be used as working capital to finance future expansion and should also help the company boost shareholder value.
The TWSE, which operates the domestic main board, announced it conducted a review of Taiwan High Speed Rail’s application and has given green light to the listing.
According to analysts, the rail company could go public as early as the third quarter of the year.
Taiwan High Speed Rail had a net profit of NT$20.82 billion (USD587 million) in 2015