Hu An Cable Holdings is proposing the conversion of more new and existing shares of the company to be converted into Taiwan Depository Receipts (TDRS) to be listed on the Taiwan Stock Exchange (TSE).
Hu An says the second TDR programme which will start on Jun 27 and close on July 1 is an attractive alternative for international investors, particularly potential investors in Taiwan, to invest and deal in the shares.
The proceeds could be used to repay part of the company’s outstanding bank loans.
Given that the existing TDRs on the TSE are trading at a higher price compared to Singapore, the programme will allow all shareholder to enhance their investment returns.
