Yangzijiang opens door for Chinese firms to list in Taiwan

The Chinese shipbuilder raises $141 million from the sale of Taiwan depositary receipts and sends its Singapore-listed shares soaring.

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...

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