Giant plans to list subsidiary shares in China

Focus Taiwan
Date: 2019/03/22
By: Pan Chih-yi and Frances Huang 

Taipei, March 22 (CNA) Giant Manufacturing Co., one of Taiwan’s leading bicycle brands, is planning to take a subsidiary located in China’s Kunshan to public in the China stock market.

In a filing posted on the Taiwan Stock Exchange (TWSE) Thursday, the bicycle brand said Giant Light Metal Technology (Kunshan) Co., which manufactures finished and semi-finished aluminum industrial products, is planning to seek approval from Chinese securities authorities to launch an initial public offering (IPO) of its shares as a Chinese yuan-denominated A-share in China.

According to Giant, the subsidiary has taken the lead over peers in aluminum material production for the bicycle and motorcycle market in East China.

The listing aims to speed up Giant’s pace of expanding business in China and attracting professionals to work for the company, which is expected to boost the company’s influence and integrate the company’s resources.    [FULL  STORY]

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