Taiwan’s stock exchange is expecting applications for new share listing to increase by more than 50% this year as it seeks to diversify from its reliance on the technology sector.
Sherman Lin, chairman and chief executive officer of the Taiwan Stock Exchange, estimates that initial public offering applications will reach 40 this year — the most since 2013 — with firms from the electric vehicle, cloud computing and biotech sectors leading the rise. Requests for new share sales on its innovation board will likely double after only eight companies applied in 2022.
Technology “is the driving engine in Taiwan but there are a lot of industries that are below the radar,” Lin said in an interview with Bloomberg on Monday. “We hope to attract these hidden champions to our stock market and showcase them to the global market.”
Read the full story on Bloomberg here.