Mainboard-listed Hu An Cable Holdings, one of the top 10 wire and cable manufacturers in China, has fixed the price of its Taiwan Depository Receipt (the TDR) issuance at NT$13.60 ($0.5751) per TDR.

Hu An Cable will be issuing 120 million TDRs. A hundred and fifty million ordinary shares in the capital of the company, comprising 75 million new shares to be issued by the company and 75 million existing shares, will underlie such 120 million TDRs.

As the TDRs will be issued at the ratio of 1 TDR to 1.25 shares, the 75 million new shares will be issued by the company at $0.460 per share. This constitutes a 8.24% premium over the weighted average price of $0.425 for each share on 20 October 2010 and is estimated to raise NT$816 million for the group.