Japanese convenience store operator FamilyMart revealed today [Tuesday] that its subsidiary Taiwan FamilyMart Co is preparing to list shares on the local Taipei over-the-counter market from 25 February.
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Taiwan FamilyMart was established as a 45.7% controlled subsidiary in 1988, and it operates 1161 convenience stores in Taiwan. Of the remaining stock, 9.5% is owned by Japanese trading house Itochu Corp. and the rest is held by local investors.
The public are to be offered 1,558 million shares by Itochu and 8,442 million shares by FamilyMart prior to the share debut. This action will reduce FamilyMart’s stake in the subsidiary to 40.3%.
