Shares of ECS Holdings (ECSH.SI), a Singapore-listed IT products distributor, rose as much as around 6% to a record high after it told Reuters it hopes to raise around US$50 million ($64.8 million) from the listing of its Taiwan Depository Receipts.
At 2:57 p.m., ECS shares were trading at $0.83 on a volume of 735,000 shares, nearly triple its average trading volume in the last 30 days.
The firm, which recently clinched nation-wide distribution rights for Apple’s iPad and iPhone in China, is submitting documents to Taiwan’s regulator and aims to make its debut on the Taiwan Stock Exchange in the first half of 2011.
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