By: Jeffery Wu and Frances Huang
Taipei, Jan. 23 (CNA) Ruten Auction (露天拍賣), a Taiwan-based online
auction platform, is seeking a stock listing in Hong Kong as part of its efforts to extend its reach to the greater China market.
Ruten, the largest e-auction platform in Taiwan, is a joint venture between Taiwan’s e-commerce operator PC Home Inc. (網路家庭) and its U.S. counterpart, eBay Inc.
Jan Hung-tze (詹宏志), chairman of Ruten and PC Home, said that the online auction site had been considering listing its shares in the United States and Hong Kong, and has finalized the plan to go to Hong Kong.
In the past year, Ruten has consulted with capital market experts and investment bankers to choose Hong Kong as a listing venue in a bid to boost the company’s global visibility. Jan said that the presence of Ruten will tell global investors that the online auction company can parallel its counterparts in China and Japan. [FULL STORY]