Fubon Securities Co. Ltd. subscribed to NT$350 million of common stock issued by unit Fubon Asset Management Co. Ltd.
Fubon Asset Management issued 35 million shares at a unit price of NT$10 apiece, the companies' ultimate parent Fubon Financial Holding Co. Ltd. said Dec. 4. The net worth of the shares is NT$14.30 each.
Fubon Securities plans to use the proceeds to boost its business resource and enhance the financial structure of Fubon Asset Management.
As of Dec. 4, US$1 was equivalent to NT$30.00.