Taipei, June 1 (CNA) Eson Precision Industry Co., a China-based electronics component maker, has filed an application with the Taiwan Stock Exchange (TWSE) to launch a primary listing on the main board, the exchange said Friday.

In its prospectus, Eson Precision, which was incorporated in the Cayman Islands and has a paid-in capital of NT$1.53 billion (US$51 million), is planning to issue 19.11 million new shares for the listing.

The company said it aims to raise about NT$668.7 million from the share sale as it has tentatively set the issue price at NT$35.

Eson Precision said it will use the funds as working capital for future expansion and to strengthen its financial structure.

The fund raising activity will be completed in the fourth quarter of this year, the company said. Concord Securities and Grand Fortune Securities will serve as the underwriters of the share sale.

Eson Precision designs and manufactures molds and parts for consumer electronics products, in particular for liquid crystal display TVs.

Its main production base is in China, with factories in cities such as Kunshan and Wuxi. The company has also established footholds in other countries, including Singapore and Mexico.

Eson Precision said it has a branch in Taiwan, which is responsible for mapping out its financial plans.

China accounted for 41.69 percent of Eson Precision’s total sales in 2012, while 28.22 percent of its revenue came from the Americas, the company said.

It said its products are sold to leading contract electronics suppliers worldwide, with Hon Hai Precision Industry Co., the world’s largest contract electronics maker, serving as the largest buyer, accounting for about 30 percent of Eson Precision’s total sales in 2012.

In 2012, Eson Precision posted NT$6.57 billion in sales and NT$263 million in net profit, up from NT$6.16 billion in sales and NT$204 million in net profit in 2011. Its 2012 earnings per share stood at NT$1.63, up from NT$1.02 the previous year.

In the first quarter of this year, Eson Precision posted NT$69.86 million in net profit, with an EPS of NT$0.48.

(By Tien Yu-pin and Frances Huang)

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