TCC Plans European Listing, Evaluating London, Paris, Frankfurt, and Other Four Locations
TCC is evaluating a listing on European capital markets, having commissioned BNP Paribas, Morgan Stanley, and Goldman Sachs for assessments. London, Paris, Frankfurt, and Amsterdam are the primary locations under consideration, driven by Europe's demand for low-carbon building materials, carbon pricing, electrification, and electricity market liberalization.
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- 📰 Published: May 4, 2026 at 18:41
- 🔍 Collected: May 4, 2026 at 19:01 (20 min after Published)
- 🤖 AI Analyzed: May 4, 2026 at 19:24 (23 min after Collected)
Central News Agency
(Central News Agency reporter Ho Hsiu-ling, Taipei 4th) TCC Chairman Chang An-ping stated that the company is evaluating a listing on European capital markets. It has commissioned three international investment banks, BNP Paribas, Morgan Stanley, and Goldman Sachs, to jointly advance the relevant evaluations. Currently, London, Paris, Frankfurt, and Amsterdam, the four major European financial centers, are the main evaluation locations.
TCC held an 80th-anniversary investor institution special session today, inviting institutional investors to attend. TCC General Manager Cheng Yao-hui explained the plan for a European listing, pointing out that TCC's current revenue can be divided into three major regions: Taiwan accounts for 36%, other Asian regions for 20%, and Europe for 44%. Europe has the highest revenue share, reaching 1.9 billion euros (approximately NT$70.3 billion), making it TCC's largest single regional market.
Cheng Yao-hui pointed out that the European market has four driving forces. First, the structural growth in demand for low-carbon building materials. While Europe's overall GDP annual growth rate is about 1.5%, the demand for construction and low-carbon cement can reach close to 4%. In addition, over the next three years, construction output is expected to maintain 3% to 5% growth. Over the next 10 years, the UK and France combined will invest over 1 trillion euros in construction and renovation of old buildings, which will continue to drive demand for low-carbon cement.
The second is the mature carbon pricing mechanism, currently at 75 euros per ton, with market expectations of reaching 142 euros per ton by 2030. The third is the huge gap in electrification transformation. Europe aims to reach 30 million electric vehicles and 3 million charging points by 2030, but by the end of 2025, it will only reach 8.3 million vehicles and 1.1 million charging points.
The fourth is the liberalization of the electricity market. In 2025, the commercial and industrial (C&I) energy storage installed capacity in the EMEA region (Europe, Middle East, and Africa combined) is still below 5GWh, but it is expected to grow to over 30GWh by 2030.
Cheng Yao-hui stated that TCC's cement production capacity in Turkey is 24 million tons, with a market share of 16% and a capacity utilization rate of 80%, still capable of assisting the future reconstruction needs of neighboring Central Asian and Eastern European countries. In Portugal, the cement production capacity is 11.2 million tons, with a market share of 52% and a capacity utilization rate of 50%, indicating growth opportunities for low-carbon cement demand in France and the UK in the future.
Regarding the European listing plan, TCC has commissioned three international investment banks to jointly advance the relevant evaluations. Cheng Yao-hui stated that in 2024, Chang An-ping personally met with these investors and conducted an NDR (Non-Deal Roadshow).
As for the listing location and timeline, Chang An-ping only stated after the meeting that neither the location nor the timeline has been finalized and will be decided based on market timing. If the listing in Europe is successful in the future, it is expected to be a rare case of a Taiwanese enterprise conducting an IPO in the European capital market. (Editor: Pan Yi-ching) 1150504
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(Central News Agency reporter Ho Hsiu-ling, Taipei 4th) TCC Chairman Chang An-ping stated that the company is evaluating a listing on European capital markets. It has commissioned three international investment banks, BNP Paribas, Morgan Stanley, and Goldman Sachs, to jointly advance the relevant evaluations. Currently, London, Paris, Frankfurt, and Amsterdam, the four major European financial centers, are the main evaluation locations.
TCC held an 80th-anniversary investor institution special session today, inviting institutional investors to attend. TCC General Manager Cheng Yao-hui explained the plan for a European listing, pointing out that TCC's current revenue can be divided into three major regions: Taiwan accounts for 36%, other Asian regions for 20%, and Europe for 44%. Europe has the highest revenue share, reaching 1.9 billion euros (approximately NT$70.3 billion), making it TCC's largest single regional market.
Cheng Yao-hui pointed out that the European market has four driving forces. First, the structural growth in demand for low-carbon building materials. While Europe's overall GDP annual growth rate is about 1.5%, the demand for construction and low-carbon cement can reach close to 4%. In addition, over the next three years, construction output is expected to maintain 3% to 5% growth. Over the next 10 years, the UK and France combined will invest over 1 trillion euros in construction and renovation of old buildings, which will continue to drive demand for low-carbon cement.
The second is the mature carbon pricing mechanism, currently at 75 euros per ton, with market expectations of reaching 142 euros per ton by 2030. The third is the huge gap in electrification transformation. Europe aims to reach 30 million electric vehicles and 3 million charging points by 2030, but by the end of 2025, it will only reach 8.3 million vehicles and 1.1 million charging points.
The fourth is the liberalization of the electricity market. In 2025, the commercial and industrial (C&I) energy storage installed capacity in the EMEA region (Europe, Middle East, and Africa combined) is still below 5GWh, but it is expected to grow to over 30GWh by 2030.
Cheng Yao-hui stated that TCC's cement production capacity in Turkey is 24 million tons, with a market share of 16% and a capacity utilization rate of 80%, still capable of assisting the future reconstruction needs of neighboring Central Asian and Eastern European countries. In Portugal, the cement production capacity is 11.2 million tons, with a market share of 52% and a capacity utilization rate of 50%, indicating growth opportunities for low-carbon cement demand in France and the UK in the future.
Regarding the European listing plan, TCC has commissioned three international investment banks to jointly advance the relevant evaluations. Cheng Yao-hui stated that in 2024, Chang An-ping personally met with these investors and conducted an NDR (Non-Deal Roadshow).
As for the listing location and timeline, Chang An-ping only stated after the meeting that neither the location nor the timeline has been finalized and will be decided based on market timing. If the listing in Europe is successful in the future, it is expected to be a rare case of a Taiwanese enterprise conducting an IPO in the European capital market. (Editor: Pan Yi-ching) 1150504
Choose to stand with facts, your every sponsorship is the power to protect press freedom.
Download the Central News Agency "First-hand News" APP to stay updated with the latest news.
The text, images, and audio-visual content on this website may not be reproduced, publicly broadcast, or publicly transmitted and used without authorization.