Wowprime owns steak houses, Japanese restaurants and other eating establishments. Steve Day (戴勝益), chairman of Wowprime, announced the establishment of Wowprime’s international division and his new plan to enter the global market. Day quickened his pace to enter the global market because a new franchise opening in Thailand has been gaining ground. According to Day, his first step will be to enter countries within Association of Southeast Asian Nations (ASEAN).
As of Feb. 29, Wowprime had 223 stores in Taiwan and mainland China. The company aims to reach 315 stores in the Greater China region this year, according to Day.
Wowprime shares were set at NT$340 and rose to NT$495 when the stock market opened. It climbed to NT$501 in the middle of the first trading day and closed at NT$492 per share. Wowprime replaced Regent as the most valuable tourism-related stock. Wowprime granted full-time employees with one-year seniority or above stock options at NT$18.7 per share, equivalent to an approximately NT$480,000 (US$16,000) per-thousand-share bonus based on Womprime’s highest price yesterday.
During the first five days after Wowprime became listed, its stock price is not subject to the 7-percent daily increase-decrease limit. Optimists expect that Wowprime has an opportunity to be the most valuable stock on the TWSE.
With its 30-percent growth rate over the past three years, Wowprime’s switch to the main board drew wide attention. Its share price soared to NT$600 at one point during trade.
Day’s PR Stunt
At the press conference held by the TWSE prior to trading, Day led a bicycle team assembled by his company executives to the event, pulling another PR stunt after holding an investor’s conference at Taipei’s Confucius Temple earlier this year. All Wowprime executives and employees in the ceremony donned sportswear.
This action represents Wowprime’s spirit of challenging ourselves, stated Day.
Day presented a copy of Confucius’ Analects to Chi Schive (薛琦), chairman of the TWSE, during the conference yesterday.