Taipei, May 28 (CNA) Two Hong Kong-listed companies have filed applications with the Taiwan Stock Exchange (TWSE) to issue Taiwan depositary receipts (TDRs) on the main board, the exchange said Saturday.

NewOcean Energy Holdings Ltd., a vendor and distributor of liquefied petroleum gas (LPG) in China, is planning to issue 130 million TDRs, each of which will represent two common shares of the company, which has been listed in Hong Kong since 1993.

The company currently operates a terminal in Zhuhai, in China’s Guangdong Province, for LPG storage and delivery, targeting customers located in southern China.

According to the TWSE, the company has tentatively set the issue price at NT$13.00 (US$0.45) to raise NT$1.69 billion from the TDR sale.

On its website, NewOcean Energy said it will use the proceeds to expand logistic capacity at its Zhuhai terminal, widen the channel to the terminal and repay its short term debt.

Meanwhile, New Media Group Holdings Ltd., which has been listed in Hong Kong since 2008, is planning to issue 28.8 million TDRs, each of which will represent five common shares.

The Hong Kong company publishes and markets Chinese weekly magazines, while also providing a cross-selling platform for advertising clients.

The TWSE said New Media is expected to raise about NT$374.40 million from the TDR sale by tentatively setting the issue price at NT$13.00.

In its prospectus, New Media said it will use the funds as working capital to develop digital content as part of its efforts to diversify. (By Tien Yu-pin and Frances Huang) ENDITEM/J