Meadville takes wait-and-see approach to possible listing

Printed circuit-board maker Meadville has not decided whether to list on the soon-to-be-launched Growth Enterprise Market (GEM).

'We have not decided whether to pursue the listing, because we have no immediate funding needs, and we want to see how [the GEM] goes after it's launched,' said executive councillor Henry Tang Ying-yen whose family owns the company.

In July, Mr Tang said the company had appointed a merchant banker to prepare for a possible listing on the GEM.

'We want to see what kind of price-earnings multiples GEM companies will command before making a decision. I think it would be normal for this kind of company to have a multiple of 15,' he said yesterday.

He said the market's liquidity, which has not been tested, was also one of Meadville's concerns.

He said he believed trading rules of the market would evolve according to market needs, which will depend on the type of investors and listing companies that would be involved.