California-based Dahon has formed a new Taiwanese subsidiary and plans to list its shares on the Taiwan Stock Exchange, the company’s founder announced during the Tapei Cycle Show.
The new company, Dahon TW (Taiwan) LLP, will engage in research and development, purchasing and distribution of Dahon’s folding bikes. It will be led by Cathy Chen, who has been appointed as vice general manager.
The initial public offering will be managed by the Taiwanese firm KGI Securities, which does extensive work scouting international investment opportunities for its clients. Though Dr. David Hon, show to the right, came up with the idea for a folding bike while working as a physicist in California’s aerospace industry, he actually built the company’s first bicycle factory in Taiwan in 1982 after raising venture capital from friends. His brother Henry Hon, a computer programmer, joined him on the marketing end of the business in 1984 and the company went on to pioneer the design and marketing of folding bikes, which have become popular in many European cities. Dahon has made most its bikes at a factory it opened in Shenzhen, China since 1995. In 1996, the company allowed itself to be featured as a success story to help Taiwan recruit foreign investment and the company has won numerous design awards from Taiwanese cycling organizations.
