TDRs and Foreign Issuers

摘要

Taiwan experienced a landmark in its stock markets on May 18, when Integrated Memory Logic, a Silicon Valley electronic chip manufacturer, listed on the Taiwan Stock Exchange - the first foreign initial public offering on the country's exchange.rnWhile the NT$1.4 billion offering, equivalent to just US$44 million, seems a fairly insignificant sum, thisrnwas a triumph for the TSE and its chairman Chi Shive, who has been pushing for foreign listings. IML chose Taiwan over Nasdaq and others because it had low listing costs, high liquidity and accommodative regulation, as well as being more suitable for a small listing than the Hong Kong or Tokyo stock exchanges.