Malaysia fertilizer firm seeks listing on TWSE

The fertilizer supplier is the eighth foreign registered company to seek a primary listing on the TWSE this year.

According to the prospectus of All Cosmos, which is incorporated in the Cayman Islands and is currently capitalized at NT$500 million(US$17.18 million), the company intends to issue 6.67 million new shares in the listing, with 15 percent of the new shares reserved for its employees.

All Cosmos said the issue price has been tentatively set at NT$40 per share. It hopes to raise about NT$267 million as working capital to expand its business and repay bank loans.

The fund-raising activity is scheduled to be completed by the second quarter of next year, the company said.

SinoPac Securities and Oriental Securities are underwriting the listing.

All Cosmos, set up by Taiwanese investors, operates two production bases in Malaysia and China, where its facilities produce 150,000 tons and 30,000 tons of fertilizer, respectively, a year.

In the future, the company aims to add production capacity of 300,000 tons in Malaysia, it said.

Malaysia and China are All Cosmos' two major markets, but the company is also hoping to gain footholds in other Asian countries, such as Indonesia, Vietnam, Thailand, South Korea, Cambodia and Taiwan.

In 2011, All Cosmos posted a net profit of NT$161.51 million, or NT$5.41 in earnings per share, compared with NT$140.89 million in net profit, or NT$4.70 per share, in 2010.

In the first nine months of this year, the fertilizer had net income of NT$118.63 million, or NT$2.41 per share.

SHARE CLOSE
Blogger		Google+
Live Journal		Plurk
Stumble Upon

Tweet

	PREVIOUS ARTICLE
	101 fireworks to be theatrical: designer

NEXT ARTICLE
Manufacturing sector won't see growth until Q2: TIER

Write a Comment

Terms

Enter your comments - 3000 characters max

Type in image code

 Receive China Post promos
 Respond to this email

Submit