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Oceanus Group for Stock Exchange Float

TAIWAN - Aquaculture production and abalone processing company Oceanus Group is to convert 150 million existing shares into Taiwan Depository Receipts or TDRs.

Oceanus plans to list the TDRs on the Taiwan Stock Exchange according to a report on Channel Asia News.

It is the second programme that Oceanus has undertaken.

The report says that the company is currently awaiting the necessary approvals from the Taiwan Financial Supervisory Commission, Executive Yuan and the Securities and Futures Bureau.

In an earlier stock exchange filing, Oceanus said the proposed second TDR programme will not result in dilution for existing shareholders.

the Fish Site Editor

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