Taiwan is to receive a big boost from the first mainland Chinese company to sell shares on its stock exchange, highlighting how the island is reaping economic benefits from improving relations with its rival.
Yangzijiang Shipbuilding, China’s fourth-biggest shipmaker, is planning to raise T$3.72bn ($116m) from a Taiwan Depositary Receipt listing on September 8, the Taiwan Stock Exchange said yesterday.
The Taiwan bourse has for the past two years aggressively courted foreign listings but has so far been limited to attracting mainly Taiwanese companies that ventured overseas. Yangzijiang’s listing also comes at a time when Taiwan is becoming more active internationally in after recent dramatic improvements in cross-Strait relations.
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