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Taiwan's first TV shopping company goes public today

TAIPEI, Taiwan -- Fubon Multimedia Technology is slated to be listed in the GreTai Securities Market today, becoming Taiwan's first TV shopping company to go public.

Fubon Multimedia Technology, a subsidiary of Fubon Group (富邦集團), had an EPS of NT$4.39 in 2013. The company will be traded at NT$158 per share today, obtaining a P/E ratio of 36. The relatively high ratio shows that investors are optimistic about TV shopping. The company opened a TV channel allowing consumers to browse various merchandise.

The company was formed in 2004, and currently has a net asset value of NT$127.8 million. Taiwan Mobile (台哥大) holds 51 percent of company shares, while South Korean company Lotte holds 17 percent and TECO (東元) holds 16 percent of shares.

Fubon Multimedia Technology's sales reached NT$21.278 billion last year and profited NT$518 million, up 2.48 percent year-on-year.

Beauty and cosmetics products, heath food products, apparel and shoes, fashion products and consumer electronics products were the company's major sources of revenue.

According to institutional investors, shopping through media such as the Internet and TV is becoming increasingly popular, and the market is expected to grow continuously. Therefore, investors are optimistic about Fubon Multimedia Technology's potential in the future.

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