SIM Technology, a China-based provider of handset solutions and wireless communication modules, has announced that it has submitted an application to the Taiwan Stock Exchange (TSE) to issue Taiwan depositary receipts (TDR) for secondary listing.

SIM said it is seeking to issue not more than 165 million units of TDR, with each unit representing two shares. The final number of TDR to be offered and the structure of the TDR Issue shall be subject to the approval by the relevant authorities and the adjustment by the board of the group and the underwriters of the TDR Issue, the company said.

The net proceeds from the TDR Issue is intended to be used for the company's factory expansion, including construction of a factory plant and a research and development center, as well as acquisition and installment of machinery and equipment, SIM said.

SIM started trading on the main board of the Hong Kong Stock Exchange in June 2005. SIM is currently the world's second largest maker of wireless communication modules covering CDMA EV-DO, TD-SCDMA, WCDMA standards and in close business relations with the three mobile telecom carriers in China.