Fubon aiming to raise NT$50bn to buy Jih Sun stakeBy Kao Shih-ching / Staff reporterFubon Financial Holding Co (富邦金控) plans to raise NT$50 billion (US$1.79 billion) in fresh capital in August or September by issuing new common shares and preferred shares so it can buy the remaining 46.16 percent stake in Jih Sun Financial Holding Co (日盛金控), Fubon Financial president Jerry Harn (韓蔚廷) said. According to Fubon Financial’s plan, it would raise NT$30 billion by issuing 500 million to 750 million new common shares and NT$20 billion by issuing 333 million preferred shares. Fubon Financial Holding Co’s headquarters are pictured in Taipei on Dec. 20, 2011. After Fubon Financial acquired majority control of Jih Sun Financial on March 23, the firm recognized its assets of NT$365 billion, which increased Fubon Financial’s assets by 13 percent year-on-year to NT$969 billion. Taipei Fubon Commercial Bank’s (台北富邦銀行) mortgage lending increased 9.3 percent year-on-year to NT$662 billion as of the end of March, it said.

Source: Taipei Times May 23, 2021 15:56 UTC