Instant coffee firm to list TDRs on September 9

Polaris Securities said senior executives of the Singapore-listed company has scheduled a conference for Sept. 8 to meet investors here before the listing.

Super Group has issued 40 million TDRs, which will each represent 0.5 common shares, to raise NT$560 million for the Taiwan listing, according to the company's prospectus.

The TDRs have been set at NT$14 each, which represents a 25.52 percent premium over the company's closing price on the Singapore Exchange Sept. 1, the prospectus said.

The company said the funds will be used largely for construction of new plants and the purchase of production equipment.

Super Group filed an application with the financial authorities in late May, seeking regulatory approval for the listing, and obtained the greenlight July 1 from the Financial Supervisory Commission, which has the final say, the prospectus added.

Super Group, founded in 1987 and known as Super Coffeemix Manufacturing until early May, was first listed on the Singapore Sesdaq before moving to the exchange's Mainboard in 1998.

The company operates 12 manufacturing facilities in Singapore, Malaysia, China, Myanmar and Thailand, and has 10 brands and more than 300 products, including instant coffee mix, instant coffee, instant tea mix, instant cereals, instant noodles and non-dairy creamers.

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