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Report: Cathay Financial to raise NT$50B via preferred share issuance

CathayFinancial Holding Co. Ltd. plans to raise around NT$50.00 billionvia an issuance of preferred shares, Reuters reported Oct. 12 citing "twosources with direct knowledge of the matter."

The company will sell shares at NT$60 each, leading to anannual yield of 3.8%.

When contacted by Reuters, Cathay Financial said that it hasmade an application to Taiwan regulators for a share sale, the news outlet said.

As of Oct. 11, US$1was equivalent to NT$31.67.