Master Kong applies for TDR listing in Taiwan

Master Kong Holdings, a subsidiary of Ting Hsin International Group, the largest Taiwanese-funded company in China, is expected to offer 380 million TDRs in Taiwan at an estimated NT$40 (US$1.23) per TDR.

Two TDRs will equal one common share.

Master Kong Holdings is expected to raise more than NT$14 billion (US$430.77 million) through the offering, said the deal's underwriter SinoPac Holdings.

Both the funds raised via the TDRs and the offer price should set new highs in the history of Taiwan's stock market, according to SinoPac Holdings.

If everything goes smoothly, the official listing of the Master Kong TDRs could occur by the end of this year at the earliest.

Master Kong brand instant noodles have a dominant 54 percent share of China's instant noodle market, while its tea beverage line has a 50 percent share and bottled water has a 21 percent share.

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