Taiwan High Speed Rail Corp. (THSR) has settled on an issue price of NT$15.13 (USD0.48) for its main board listing on 27 October. The price was determined after the underwriter Fubon Security 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 3 October.
THSR, the only high speed railway operator in Taiwan, said that if the issue price was higher than NT$11.50, the company would have higher working capital, a positive sign for future operations.
THSR posted NT$20.05 billion (USD 634 mn) in sales for the first half of this year. Operations for the first half of this year were better than last year.
The Ministry of Transportation and Communications is the largest shareholder in THSR, with a 43.17 percent stake.
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