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Waterland Financial to issue NT$332M of new shares

Taiwan's Waterland Financial Holding Co. Ltd. plans to issue NT$332 million of new shares.

The company will issue 33,199,992 common shares at NT$10 apiece. Funds raised from the issuance will be used to improve the company's working capital.

In addition, the company named Yang Wen-ching as director of its unit International Bills Finance Corp., while Ying Wu was appointed supervisor of the unit.

Yang is CEO of Grand Trust International Law Offices, while Wu is vice chairman of Waterland Financial. Both appointments were effective March 27.

As of March 27, US$1 was equivalent to NT$29.17.