Super Group, the manufacturer for three-in-one instant coffee, says it has received approval from the relevant authorities in Taiwan to offer and list up to 40 million Taiwan Depository Receipts (TDR) on the Taiwan Stock Exchange (TSE).

The offer represents an aggregate of up to 20 million new Super shares.

The group says it has obtained approvals from all relevant authorities in Taiwan including TSE, Taiwan Central Bank (TCB) as well as Securities and Futures Bureau of Taiwan Financial Supervisory Commission, Executive Yuan since it first announced its plans to list TDRs on the TSE on March 22.

Super intends to use proceeds from the proposed TDR issue to acquire a property in Singapore to build its new headquarters, manufacturing and warehousing facilities and R&D centre on the property. The proceeds will also be used towards the costs of relocating to the new premises.