By: Wei Shu and Frances Huang, Central News Agency
Taiwan High Speed Rail Corp. (台灣高鐵, THSR) has settled on an issue price for its Oct. 27 main board listing of NT$15.13 (US$0.48), underwriter Fubon Security said on Thursday.
The price was determined after the underwriter held an auction for the 16 million common shares to be issued in the listing.
The final issuance price was much higher than the NT$11.50 per share tentatively set in a prospectus filing to the Taiwan Stock Exchange on Oct. 3.
The auction ran from Oct. 6 to Oct. 11 and had a floor price of NT$11.64, Fubon Securities said.
THSR, the only high speed railway operator in Taiwan, said in the prospectus that if the issue price was higher than NT$11.50, the company would have higher working capital, a positive sign for future operations. [FULL STORY]