Huatek to List on Emerging Stock Board on August 10 with Auction Starting Price of NT$22

The initial public offering (IPO) of Huatek Motor (2237-TW), an electric bus manufacturer, handled by Capital Securities, is scheduled to list on the Emerging Stock Board on August 10, 2023. A total of 6,448 trading units are offered publicly before listing, with 5,159 units undergoing competitive auction from July 24 to July 28, 2023. The auction starting price was set at NT$22 per share, with bids opened on July 30. Public subscription was conducted from July 29 to July 31, followed by a public lottery on August 4.

Huatek Motor currently has paid-in capital of NT$1.217 billion. Supported by government initiatives promoting green transportation—particularly the Ministry of Transportation and Communications' "Electric Large Bus Promotion Program"—and complemented by an overseas technology export strategy, the company's operations continue to expand.

As the localization ratio of key components increases and economies of scale in production become more evident, Huatek Motor's order backlog is visible through September 2023, strengthening its overall profitability.

Established in 2005, Huatek Motor is currently Taiwan's leading electric bus brand by market share. Its business spans vehicle manufacturing, integration of the three core electric systems (battery, motor, and electronic control), fleet management software, and green energy solutions. The company has also established strategic partnerships in Japan and North America.