By Chen Cheng-hui / Staff reporterValue Valves Co Ltd (捷流閥業) shares yesterday rose 64.1 percent during their debut on the Taipei Exchange. Value Valves became the first company to launch an initial public offering (IPO) on the local stock market this year. Headquartered in New Taipei City’s Tucheng District (土城), Value Valves manufactures a range of valves, with butterfly valves being its major revenue contributor and accounting for more than 60 percent of total sales. Cumulative revenue in the first 11 months of last year increased 29.15 percent year-on-year to NT$2.2 billion (US$73.1 million), Value Valves said in a statement yesterday. Yuanta Securities Investment Consulting Co (元大投顧) yesterday said in a report that it is “positive” about Value Valves due to its solid sales growth momentum and increasing gross margin.
