Taiwan Stock Exchange Marks 50th Primary Listing By A Foreign Company - Bonny Worldwide Limited To Become The 50th Foreign Company To Undertake A Primary Listing On TWSE

The Taiwan Stock Exchange (TWSE) will soon welcome the 50th foreign company to complete a primary listing since the opening up of the Taiwan market to foreign listings in 2008. In mid-December, Bonny Worldwide Limited will join an ever-growing list of foreign enterprises listed on TWSE. Bonny Worldwide Limited is a leading innovative equipment and design manufacturer for sports products. It primarily produces and sells quality carbon fiber products, such as ice hockey sticks, and its major customer is well known in the global sports industry.

The number of foreign companies listed on TWSE has grown steadily and now accounts for approximately 8% of all listings on TWSE. Foreign listings enjoy higher P/E ratios and turnover rates than on neighboring markets, as well as the TWSE market average. In 2014, more than 60% of foreign listings had P/E ratios ranging from 15 to 40 and the turnover rate for foreign shares was as high as 224.62%. These outstanding figures underscore TWSE as a sound trading platform, as well as its ability to attract an increasing number of overseas Taiwanese companies coming home to launch an IPO. Currently, 82% of foreign listings are Taiwanese-owned with operations in China, U.S., and the ASEAN region, among others.

Despite being a medium size market, TWSE is famous for its hi-tech industry cluster. Nearly half of the capitalization of the Taiwan market is attributable to companies in ICT industries. Companies in the biotechnology and internet communication sectors enjoyed P/E ratios of above 30 in 2014, while non-ICT industries such as food, electrical and cable and tourism enjoyed P/E ratios of above 25. In a nutshell, TWSE’s comprehensive industrial sectors helps listing candidates, both ICT and non-ICT, float their shares and achieve fair value post-listing.

TWSE now has the third largest proportion of foreign listings among Asian markets, behind only Hong Kong and Singapore, with more and more foreign companies recognizing Taiwan as an ideal market for listing SMEs and raising capital. TWSE will continue to leverage on its advantages as a gateway to the China market, as well as its clear and efficient listing review, transparent market mechanism and most importantly, its convenient fundraising features, in order to help foreign companies develop their businesses.