DEFYING WISDOM:New listings usually soar because of the honeymoon effect, but only four of the 60 newly listed companies last year raised more than NT$1 billion

Taipei Times
Date: Jan 09, 2017
By: Staff writer, with CNA

Funds raised from initial public offerings (IPOs) in Taiwan fell more than 30 percent annually last year, although the number of new listings on the local equity market rose slightly, according to PricewaterhouseCoopers (PwC) Taiwan.

In a report released on Tuesday last week, the accounting and consulting firm said NT$25.5 billion (US$797 million) was raised by IPOs on the local main board and the over-the-counter (OTC) market last year, a 32 percent annual decline.

Meanwhile, the number of companies that listed their shares for the first time on the main board and the OTC market last year was 60, two more than in 2015, PwC said.

The drop in the funds raised from IPOs last year was caused by newly listed companies often being small and medium-sized firms in the high-tech sector or in the cultural creative industry, the firm said.    [FULL  STORY]