Taishin Financial Holding Co Ltd (台新金控) has briefed the Financial Supervisory Commission (FSC) on a tentative plan to sell new shares to raise funds for the acquisition of Prudential Life Insurance Co of Taiwan (保德信人壽).
While the company has yet to formally apply for FSC approval of the share sale plan, the share sale seems to have a few advantages over previous plans, Banking Bureau Chief Secretary Phil Tong (童政彰) told a videoconference on Tuesday.
Since last year, the commission has rejected several fundraising plans proposed by Taishin Financial due to fuzzy feasibility and unclear financial arrangements.
Under the new plan, Taishin Financial
Prudential has agreed to delay acquisition: Taishin taipeitimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from taipeitimes.com Daily Mail and Mail on Sunday newspapers.
India’s Covid-19 crisis has so far failed to spark a deep stock selloff like that seen last year, and some asset managers point to less stringent curbs on activity as one factor at least for now. Even as the nation reports more than 300,000 confirmed infections and over 4,000 deaths a day, India’s benchmark equity index has been moving in line with regional peers. The S&P BSE Sensex index has declined 6.6% from a mid-February peak, about as much as the MSCI AC Asia Pacific index. That compares with a 23% tumble in the Sensex in March last year when the coronavirus pandemic started to rage globally.