Taipei,Oct.5,2012(CENS)--Since the fourth quarter is traditionally the busy season for share listing,plus the levy of securities transaction gains tax next year,at least 17 enterprises are rushing to list their shares on the stock market in the fourth quarter.
In response to the market need,the board of director of the GreTai Securities Market(over-the-counter market)will hold extra meetings in November to speed up the screening of share-listing applications.
Taiwan Stock Exchange predicted that the number of new share listings on the centralized market will reach at least 23 this year,including 13 in the fourth quarter alone,more than 10 in the first three quarters.Nine companies,including Taiwan Taxi,have obtained the approval of GreTai Securities Market for share listing.
Of the prospective listed firms on the centralized market,F-Dinggu(literal translation),a realty development firm of ASE group in mainland China,is the most noticeable one,boasting paid-in capital of NT$16.8 billion,the highest among those firms.Taiwan Taxi will be the first listed taxi firm in Taiwan and is scheduled to list its shares on the GreTai Securities Market on November 7.
Lee Shuh-der,chairman of the GreTai Securities Market,pointed out that in order to speed up pace of share listing by enterprises,the GreTai Securities Market will convene provisional meeting for its board of directors to screen share-listing applications,so that the applicants can complete their share listing by the end of this year.
The GreTai Securities Market aims to have 50 firms apply for share listings this year and by the end of August,the number of new share listings on the market had reached 20.Plus the expected wave of share listings in the fourth quarter,the GreTai Securities Market is confident to achieve the annual target this year.
Institutional investors pointed out that another important reason for the craze of new share listings in the fourth quarter is deferral of new share listing in the first half this year,due to the impact of the European-debt crisis and the controversy over the securities transaction gains tax.Due to the settlement of the securities transaction gains tax in the third quarter,the upturn of the Taiwanese stock market,and levy of securities transaction gains tax according to the initial public offering(IPO)prices of newly listed shares,many companies rush to list their shares in the fourth quarter.
