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Fubon Financial units in NT$350M share subscription

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.