Taipei, Jan. 19 (CNA) Golden Meditech Holdings Ltd., a Chinese integrated healthcare service provider, is scheduled to list its Taiwan depositary receipts (TDRs) on the Taiwan Stock Exchange Jan. 24, underwriter Polaris Securities said Wednesday.

For the listing, Golden Meditech has issued 90 million TDRs, each of which represents two common shares of the Hong Kong-listed company, raising about NT$1 billion (US$34.52 million) , Polaris Securities said.

The listing price has been set at NT$11.2, the underwriter said.

Polaris Securities said the TDR listing will make Golden Meditech the first integrated medical devices and healthcare service provider to have a presence on the local main board.

According to the company’s prospectus, it will use the proceeds from the TDR sale to repay bank loans and to set up a representative office in Taiwan.

Golden Meditech, which has been listed on the Hong Kong Stock Exchange since 2001, produces and sells medical devices and herbal medicine and provides medical care services, including the processing, separation and storage of blood stem cells.

The company, registered in the Cayman Islands, is the first and largest cord blood-related medical device manufacturer in China, with the Autologous Blood Recovery System, one of the company’s core products, accounting for 80 percent of the China market, the underwriter said.

Polaris Securities said Golden Meditech runs the first wholly foreign investor-owned hospital management company in China, as well as the first medical insurance information management firm, while the company owns the largest hematology hospital group — Daopei Hospitals Group.

In the six months to September 2010, the company’s net profit rose 170 percent from a year earlier to about NT$610 million. (By Frances Huang) ENDITEM/J