Taipei, Oct. 23, 2008 (CENS)--Want Want China Holdings Ltd., listed on the Hong Kong Stock Exchange, has officially applied with the Taiwan Stock Exchange (TWSE) to issue Taiwan depository receipt (TDR), a substantial move to back Taiwan government`s program to invest in the economic vitality of the island.

This is the second Taiwanese firm listed on the Hong Kong exchange, after Ju Teng International Holdings Limited, to return home to go public. Want Want China said the TDRs to be issues will value NT$3 billion (US$92.3 million at US$1:NT$32.5), or 150 million shares more than that issued by Ju Teng.

Want Want China noted the TDR issuance will be launched through its stakeholder Hot-Kid Holding Co., which will transfer parts of its shareholdings in Want Want China to Taiwan`s custodian institutions for such issuance.

Want Want China`s board of directors said that Norwares Overseas Bank will be handle the transfer Hot-Kid`s shareholdings, with the transfer amount to exceed 2.5 billion shares.

Although Want Want China has applied with the TWSE to issue TDRs, the listing of the TDRs will not take place until the bearish Taiwan market turns bullish.

In addition to the issuance of the TDRs, Want Want China will also offer NT$1 billion (US$30.76 million) to subscribe the new shares issued by its subsidiary-Union Insurance Co.

Want Want Group chairman Y.M. Tsai said the funds generated by the TDR issuance will be invested in Taiwan, but in non-food industries like the media and financial sectors.

Originating in Taiwan as a small food and beverage producer in Ilan County, Want Want Group has been engaged in the F&B and non-life insurance sectors. Over the past decade, the group has invested NT$5 billion (US$153.84 million) in Taiwan, and has promised to continue investments in Taiwan.
(by Ben Shen)