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Taishin Financial to raise NT$15B in preferred share issue

Taishin Financial Holding Co. Ltd. plans to raise NT$15 billion through the issuance of preferred shares.

The company said July 26 that it expects to issue 300 million class E preferred shares at a tentative issue price of NT$50 per share.

The company plans to use proceeds from the issuance to augment its working capital, strengthen its financial structure and enhance its capital adequacy ratio.

As of July 26, US$1 was equivalent to NT$30.59.