A XIAMEN firm owned by a Taiwanese investor says it has been approved by the authorities in China and Taiwan to list on the Shenzhen stock exchange.
If successful, Tsann Kuen (China) Enterprise will become the first fully Taiwanese-owned firm to list in China through the issue of B shares.
The appliance maker will also be the first cross-province B-share listing on the country's two exchanges in Shanghai and Shenzhen. There are already cross-province listings for A shares.
No official comment was available from both the authorities in China and Taiwan.
Company founder and chief executive Wu Tsann-kuen yesterday said the listing by a Taiwanese investor was made possible because the firm, in Xiamen, Fujian province, was held by Hongkong-based holding companies.
The three companies were in turn owned 90 per cent by Mr Wu and his associates, with the remainder held by company employees.
