Group in Hong Kong or Tokyo. Grace Group, which makes plastics and electronics components, will apply this year for an initial public offering either with Hong Kong or the Tokyo stock exchange, Chief Executive Officer Wong told reporters in Taipei yesterday.
"We're evaluating whether to pick Hong Kong or Tokyo," Wong, 55, said during a conference. His father founded Formosa Plastics Group, Taiwan's biggest diversified industrial company.
Grace Group, with factories in Guangzhou, Shanghai and Wuxi, makes components used in printed circuit boards and plastic products, pitting it in competition with Formosa Plastics Group.
Wong founded Grace Group in 1996 after leaving his father's company. He also set up chipmaker Grace Semiconductor Manufacturing Corp. in Shanghai with Jiang Mianheng, son of China's former president Jiang Zemin. Wong declined to release details of the planned IPO.
Wang was Taiwan's richest man, according to a March issue of the Forbes magazine.
Units of Formosa Plastics Group include Formosa Plastics Corp., the world's second-biggest maker of polyvinyl chloride, and Nan Ya Plastics Corp., the largest processor for plastic for imitation leather and pipes.
