Taiwanese equity issuers face long queue and uncertain outcome

The long pipeline of international equity issues from Taiwan is showing signs of faltering under the weight of depressed domestic sentiment.

The continuing slide of the Weighted Index, the prospect of the government withdrawing its active market support and poor subscription levels to Chunghwa Telecom's domestic IPO, have raised doubts that many of the numerous international equity mandates from Taiwan will see the light of day before the end of the fourth quarter.

Hitting a 52 week low of 7,144.12 yesterday Thursday, the dismal performance of the Weighted Index has formed an unappetising backdrop to the marketing efforts of companies currently in the middle of roadshow presentations. Premier Image Technology, scheduled to be priced tomorrow, will be followed by United Microelectronics Corp UMC on Monday and slightly further down the line, Advanced...

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