Yangzijiang Shipbuilding Holdings will become the first mainland Chinese company to list in Taiwan following a sale of Taiwan depositary receipts TDRs that saw it raise NT$4.51 billion $141 million. The well-received deal bodes well for other Chinese companies that may want to tap Taiwan’s investor base for fresh capital, and it has also triggered something of a re-rating of Yangzijiang’s Singapore-listed shares as well, sending the stock 6% higher during the share sale.
And the share price has continued to gain every day since the pricing last Wednesday. As of yesterday’s close it was up 12% since the company started taking orders for the TDR sale on August 26. The TD...
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