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Hua Nan Commercial Bank to raise NT$9.11B from share issue

Hua Nan Commercial Bank Ltd. will raise NT$9.11 billion from its issuance of new shares in a private placement.

The bank said July 31 that it would issue 414 million shares for NT$22 per share. The bank's parent, Hua Nan Financial Holdings Co. Ltd., will subscribe to the entire issue.

Funds raised from the issuance will be used to strengthen the bank's capital.

As of July 31, US$1 was equivalent to NT$30.20.