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Taipei (ANTARA News/Asia Pulse) - The Taiwan Stock Exchange Corp. (TWSE) said Thursday it is planning to invite Hong Kong-listed Taiwanese red-chip companies to issue Taiwan depositary receipts (TDRs) on the Taiwan stock exchange in a bid to expand natural resource stocks.

The red-chip companies will include China National Offshore Oil Corporation (SEHK:0883) and CNPC (Hong Kong) Limited, which trade in crude oil and oil exploration stocks, said TWSE Chairman Chi Schive.

"The Financial Supervisory Commission's decision to allow Taiwanese investors to trade red-chip stocks is a milestone in Taiwan's capital market, " Schive said at a ceremony to mark the listing of TDRs of China-based Good Friend International Holdings Inc.

Red chips are shares in Chinese companies that are incorporated outside China and listed in Hong Kong and Macau.


Source:
Business in Asia Today - March.19, 2010
published by Asia Pulse

Editor: Ricka
COPYRIGHT © 2012

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