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Yuanta Financial plans to raise NT$14B for Yuanta Life unit

Taiwan's Yuanta Financial Holding Co. Ltd. plans to raise NT$14 billion for its Yuanta Life Insurance Co. Ltd. subsidiary.

Yuanta Financial will subscribe to 1.4 billion common shares of Yuanta Life at NT$10 per share. Yuanta Life's board will determine the record date for the cash subscription.

The capital injection will strengthen Yuanta Life's financial structure and improve its capital adequacy ratio and price book ratio, according to a statement.

As of Sept. 25, US$1 was equivalent to NT$31.06.