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Chang Hwa Bank to establish new venture capital unit

Chang Hwa Commercial Bank Ltd. plans to establish a new venture capital subsidiary.

The new venture capital subsidiary will be called Chang Hwa Bank Venture Capital Corp. Ltd. and will be 100% owned by the bank, according to a May 15 release.

The new subsidiary will be set up with NT$600 million of capital.

As of May 15, US$1 was equivalent to NT$29.93.