TSEC Taiwan Stock Exchange : TAIWAN STEEL UNION CO., LTD. IPO by auction successfully completed today (January 16)

TAIWAN STEEL UNION CO., LTD. conducted its initial public offering (IPO) of common shares by auction and public offer. The company issued 7,703,000 shares by auction and 1,925,000 shares by public offering. A total of 1,995 bids were received with 1,911 bids being eligible. The winning bids were decided by American auction format. A public bid opening by computer was completed at TWSE at 10 a.m. on January 16. All shares were successfully auctioned off. The results are shown below.

Lowest winning bid: TWD 99.60

Highest winning bid: TWD 119.60

Weighted average winning bid: TWD 103.57

According to the Taiwan Securities Association Rules Governing Underwriting and Resale of Securities by Securities Firms, the lowest bid from the competitive auction for TAIWAN STEEL UNION CO., LTD. was TWD 74.14, and the public offering price is TWD 86.00. The public subscription period started on January 18 and ended on January 22. The public lottery draw date is January 24.