XTEP, A Shoe Manufacturer, Applies To Sell Depositary Receipts (TDR) To Taiwan.
December 7th, 2008 in Hongkong list XTEP will expand Taiwan market As the first step in the pace of internationalization of the company, reporter 1 from XTEP The announcement was informed that XTEP had submitted an application to the Taiwan stock exchange and the relevant departments. It will sell Taiwan Depositary Receipts (TDR) and raise funds for the development of Taiwan's business.
According to the announcement, XTEP will sell 250 million Depositary Receipts (TDR) and hopes to be listed in Taiwan.
On behalf of 0.4 shares per unit of Taiwan depositary receipt, XTEP issued a total of 100 million shares.
These include 50 million new shares issued by the company, and the Carlyle investment fund selling 50 million of its old shares, which account for about 2.3% of the issued share capital.
Zhuang Zhaohui, manager of XTEP overseas affairs department, said that the approval process of TDR would take 3 months.
In fact, in June of this year, XTEP opened its first branch in Taiwan.
XTEP said it raised funds to expand, promote and sell Taiwan's market, as well as expansion of plant and equipment.
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