TAIPEI -- Taiwan High Speed Rail debuted Thursday on the main board of the Taiwan Stock Exchange to an overwhelming investor response, likely owing to its promise of generous dividends, though the railway operator still has many problems to solve.
The company had previously been traded only over the counter. Its promise to pay out at least 60% of net profit as dividends attracted retail and institutional investors alike. The stock opened at 20.60 New Taiwan dollars, 36% above the offering price of NT$15.13, and closed up 59% at NT$24.05. The company's market capitalization stood at NT$63 billion ($1.98 billion), not including the value of privately held common shares.
