2010/08/09 華爾街日報

Taiwan Stock Exchange Corp. said it approved the application of 85cafe, a Taiwanese coffee and bakery chain that also has stores in the U.S., China and Australia, to list under the name Gourmet Master Co. on the island's stock exchange.

The chain, which has nearly 70 outlets in China, is looking to raise NT$1.14 billion in the deal and has hired Yuanta Securities Co., Taiwan's largest stock brokerage by market share, as its adviser, according to the statement.

The statement didn't say when the company will list.

The chain, headquartered in Taichung, in central Taiwan, has 325 stores and 2, 500 employees globally with registered capital of NT$90 million, according to its website.