China Taisan Technology (F2X.SG) +4.8% at 5-week high of $0.22 on hopes stock could fetch higher valuation as sportswear fabric maker receives approval from Taiwan regulators to list TDRs, says Dow Jones.

Up to 250 million shares, comprising both new and vendor shares, will be issued for exercise, with each TDR representing 2 shares. Listing date, pricing not finalized but company plans to use proceeds to increase production capacity.

 

CIMB notes TDR listing has become most favoured theme in recent weeks after dual-listing frenzy cooled in past months.

 

Kim Eng Securities expects Taisan to track performance of instant beverage maker Super Group (S10.SG), which hit 52-week high of $1.10 this week, +14% since company unveiled TDR listing in March; Super Group’s TDRs will start trading Sept. 9 at equivalent of $1.18/share, 24% premium to closing price before TDR pricing finalised.

 

Orderbook quotes tip minimal upside beyond $0.23 for Taiwan.