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91APP, a new retail solutions provider, made history as Taiwan’s first company to have a “cloud listing” on the Taipei Exchange. The company saw an impressive market debut, with its stock closing 153% higher on the first day, reaching a market value of 20.1 billion TWD. Chairman Steven Ho emphasized the company’s growth potential in the OMO (Online-Merge-Offline/Offline-Merge-Online/Online and Offline Merge Together) retail market and its swift response to the COVID-19 pandemic. The successful IPO of this SaaS company challenges the perception that Taiwan’s market can’t support software firms. Ho expressed confidence in Taiwan’s capital market to strengthen 91APP for future overseas expansion.

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Source: This summary is based on an article from Business Next, titled “91APP 正式掛牌、市值破 200 億!躍升SaaS 界上市領頭羊,董座:打破只重視硬體謠言” (translated as “91APP Officially Listed with a Market Value Exceeding 20 Billion NTD! Becomes Leading Listed SaaS Company, Chairman: Debunking the Hardware-Only Myth”), published on May 25, 2021.