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CTBC Financial to issue preferred shares

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CTBC Financial to issue preferred shares

CTBC Financial Holding Co. Ltd. plans to issue 333,330,000 preferred shares.

The total issue size will be decided on the basis of the issue price, which has yet to be announced. The shares have a par value of NT$10 each.

The company allocated 10% of the preference shares to employees, 10% to be publicly sold and 80% for subscription by existing shareholders.

The dividend yield will be set at seven-year IRS over the fixed rate per year on the issue price. The fixed rate will be determined within the range of 1.43% to 3.43%.

Proceeds from the issuance will be used to strengthen the company's capital and financial structure, as well as to enrich working capital.

As of Oct. 16, US$1 was equivalent to NT$30.15.