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Updated Thursday, January 27, 2011 11:34 am TWN, The China Post news staff

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MOS Burger tops emerging stock market in stellar debut

TAIPEI, Taiwan — The title of “king of emerging stocks” went to MOS Burger yesterday, which had a stellar debut on Taiwan's emerging stock market.

The Japan-originated fast food chain had a first-round transaction price of NT$200, higher than the NT$105 expected by the market. It fell to NT$158 at one point during trading yet launched a comeback afterwards, reaching a high of NT$305 and closing at NT$235, defeating Skymedi Corp.'s NT$221.

TECO, one of the parent companies of MOS Burger Taiwan, also rose yesterday, capping a 10-day losing streak.

MOS Burger Taiwan is a joint venture between TECO and MOS Burger Japan. Last year the company posted revenue of NT$3.399 billion, a net profit of NT$178 million and earnings per share of NT$8.12, the highest ever for the firm.

MOS Burger has restaurants in Taiwan as well as Xiamen, part of its expansionary effort to reach mainland China. The firm is a franchise and sets up operating points in appropriate areas. It provides various burgers, desserts, soups and drinks that can be either eaten in-store or taken out.

Advising securities firms for MOS Burger's listing included Capital, Polaris, and Yuanta. The firm's shares will reportedly be traded under the tourism category once it is listed on the Taiwan Stock Exchange or the over-the-counter market.

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