Foxconn International Holdings (FIH) and Delta Networks, the Hong Kong-listed subsidiaries of Foxconn Electronics and Delta Electronics, respectively, are planning to sell their shares on the Taiwan Stock Exchange (TSE) through an issuance of TDRs (Taiwan depositary receipt), the Chinese-language Economic Daily News (EDN) quoted government officials as saying.
FIH's and Delta Networks' planned TDR issues come after Taiwan government approved on July 30 a set of proposals to loosen restrictions to allow overseas enterprises to list directly on the TSE or to issue TDRs for trade on the TSE, the paper said.
The government has decided to remove a previous restriction that prohibits enterprises registered outside the territory of Taiwan to issue securities such as TDRs to raise funds to finance directly or indirectly their business operations in China, the paper said.
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