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Taishin International Bank raises NT$5.60B in share sale

Taishin International Bank Co. Ltd. raised NT$5.60 billion of capital by issuing shares to its parent Taishin Financial Holding Co. Ltd. in a private placement.

The bank will issue 294,736,842 common shares to its parent at NT$19 per share, according to an Aug. 30 stock exchange filing.

Taishin International Bank said it would use the proceeds to strengthen its capital structure and enhance its BIS capital ratio.

As of Aug. 30, US$1 was equivalent to NT$30.74.