Joy Industrial Goes Public
TAIPEI, Taiwan – Already the Taiwan based component maker made its first steps on the stock market with its shares being ‘Over the Counter’ traded. But there’s more to come at Joy Industrial Co. as the company is preparing for an IPO.
Since December shares of this Taiwanese parts producer are traded on the OTC (Over The Counter) market. This year the company’s stocks will be transferred into the regulated Taiwan Stock Exchange (TWSE). Joy Industrial’s listing’s number is 4559 (now on OTC and later on TWSE).
Joy Industrial is going public, “After the entire organization became bigger and the management adjusted due to our IPO preparation.” Joy’s founder and President Steven Chen has set the ‘public’ future of the company on January 1, 2015 by promoting his sons Tate to the new position of CEO and Jeff to CMO (Chief Marketing Officer). “My father thought it is time that the next generation takes over more responsibilities for the company,” said Jeff Chen at last week’s Taipei Cycle Show when asked for comments on the IPO.
Joy’s shares traded by broker-dealers
Last December the shares of Joy Industrial Co. started with a share price of TWD 40 at the OTC market. Here shares are traded via a dealer network as opposed to on a centralized exchange. Currently Joy’s shares are traded by broker-dealers at TWD 37. “That’s usual after going public,” states Jeff Chen. When Joy Industrial’s shares will be transferred and then traded at TWSE the same could happen.
Taiwan’s electronics segment
Noteworthy is that Joy Industrial isn’t listed within the nation’s bicycle company’s segment, but under Taiwan’s electronics segment. “That’s due to our electronics offering for e-bikes and e-scooters,” explains Joy’s CMO Jeff Chen. With ‘E Ram’ Joy is now introducing an e-bike mid-motor drive system that’s also suited for e-MTB’s. Also, three years ago Joy started to produce electric scooters. Production stands currently at about 1,500 units per year. They are sold in Taiwan now, but the next step is to offer them in China also.