Taiwan Depositary Receipts

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As part of its ongoing capital market liberalization policy, the Taiwan government actively encourages international businesses to list in Taiwan through an initial public offering (IPO) or by issuing Taiwan depositary receipts (TDRs).

Several companies listed in Hong Kong, Singapore and elsewhere in the Asia region have shown a strong interest in cross-listing on Taiwan's stock exchange, attracted by Taiwan’s very active fund trading, high turnover rate and favourable price-to-earnings ratios, not to mention a quick and simple listing process. Issuing TDRs may also give companies a further boost to their primary listings.

PwC has produced an introductory booklet for interested applicants, which provides an overview of the TDR listing process and requirements and outlines the basic steps involved.