TaiGen seeking formal listing on GreTai

TaiGen Biotechnology Co. Ltd. (GreTai-E:4157) applied for a formal listing on the GreTai Securities Market. The company plans to raise money in an IPO on the exchange, but could not be reached for details. TaiGen, which has 652 million shares outstanding, has said that the typical dilution is less than 10% in a Taiwan IPO. TaiGen's parent company, the Cayman-registered TaiGen Biotechnology Holdings Ltd., filed for the listing as a foreign issuer. To obtain a formal listing on the GreTai exchange, domestic companies must first trade as an emerging stock for at least six months, but as a foreign issuer, TaiGen is not required to meet that requirement. KGI Securities is underwriter. TaiGen began the process to list on GreTai in August. ...