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Fubon Financial to raise NT$6.67B in share issue

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Fubon Financial to raise NT$6.67B in share issue

Fubon Financial Holding Co. Ltd. plans to raise NT$6.67 billion by issuing preferred shares.

The company said Feb. 1 that it would issue 666,660,000 preferred shares at an issue price of NT$60 per share.

The company will allocate 15% of the total issued preferred shares to the company's employees for subscription, 75% of the shares to existing shareholders and 10% of the shares to be publicly sold.

Fubon Financial plans to use the funds raised in the issue to buy Fubon Life Insurance Co. Ltd.'s corporate bonds, to repay debt and to strengthen its working capital.

As of Feb. 1, US$1 was equivalent to NT$29.24.