Wonder how many people bought the counter when they announced that they were going to do the TDR ?
Map Tech cans TDRs listing after failure to get approval By ANGELA TAN
SINGAPORE - Map Technology Holdings Limited said on Friday that its proposed listing of the Taiwan Depository Receipts (TDRs) has been terminated.
The company said it has received notice from the Taiwan Securities and Futures Bureau that the proposed listing
is not approved because the company had recorded losses during the financial year ended Dec 31 2009.The company had earlier applied to the GreTai Securities Market of Taiwan (GTSM) and Taiwan Central Bank for the offering and listing of TDRs, representing up to 228 million shares of the company, on the GTSM.
Major shareholder, Min Aik Technology Co, Ltd, intended to offer certain of its shares held in Map Tech for the issuance of the TDRs, with each TDR representing six ordinary shares of Map Tech at an issue price of NTD8.11 (S$0.35) per TDR, in order to raise NTD308.18 million (S$13.3 million).
The deal was expected to enhance Map Tech's corporate profile in the international investment communities in addition to providing an alternative fund-raising platform to the company.
Source: Business Times
It's all about "how much you made when you were right" & "how little you lost when you were wrong"