By: Pan Chih-yi and Frances Huang
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]