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Cathay Financial to raise about NT$20B via share issuance

Cathay Financial Holding Co. Ltd. plans to raise about NT$20 billion via an issuance of new shares.

The company will issue up to 1 billion common shares, which have been tentatively priced at NT$27 to NT$41 per share.

The funds raised from the issuance will be used to strengthen the group's capital and financial structure, as well as its capital adequacy ratio.

As of Aug. 15, US$1 was equivalent to NT$31.34.