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Keen High Listing on the Emerging Stock Market

Shenzhen, China-based Keen High Technologies Ltd, founded in 1992 and chaired by Arthur Wang, yesterday began trading on the Emerging Stock Market, with plans to move to the over-the-counter (OTC), or GRETAI Securities Market, in six months. The move also marks the first exit by a mainland VC institution via the Taiwan capital market.

Keen High, the world’s third-largest manufacturer of MP3 and MP4 players with a 10% share of the global market of 1.8 million units annually, rose 2.9% to close at NT$25 on its first trading day.

Expressing confidence in his company’s prospects as the demand for electronic gadgets such as digital photo frames recovers, Wang forecast that revenues this year would post “double-digit growth” and return to 2007 levels, or about NT$4.56 billion (US$142.1 million).

Keen High reported NT$3.48 billion in sales for the first nine months of this year, or nearly 94% of its full-year revenues of NT$3.72 billion last year, and a net income of NT$137.5 million, or NT$2.21 per share.

 

Keen High has a very strong board directors team, including founder and chairman Wang Renmao, founder and Vice Chairman Ye Bin, Ju-Yuanju computer software Chairman Wei Danian, Wistron Director Lin Xianming, Chief Investment Officer Bai Xiangwei from Shenzhen Capital Group (SCGC), Vice Chairman of ViewSonic Zhu Dai Ying, China-Israel Value Capital’s (CIVC) General Partner Yigal Livne and Xu Shenghao, the Chairman of Costar Electronics Inc  

 

SCGC and CIVC which invested in KeenHigh Technologies in Feb. 2008, provided much value-added services for the company to improve its risk-resisting ability amid the financial tsunami. In preparing for the listing of KeenHigh Technologies in Taiwain, SCGC Chairman Jin Haitao paid a special visit to Taiwan Stock Exchange Chairman Xue Qi, OTC General Manager Wu Yuqun and Taiwan's top brokerages including Yuanta Securities, Fubon Securities, Masterlink Securites and Taiwan International Securities Group, setting the stage for the quick listing of KeenHigh Technologies.

 

For the Taiwanies aricle click here

 

For the Share price on the Taiwan's OTC Board, code: 3651, Ticker KYKH Click here