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Taiwan's Masterlink Securities to delist after Shin Kong Financial deal

MasterLink Securities Corp. will delist from the Taiwan Stock Exchange following completion of its acquisition by Shin Kong Financial Holding Co. Ltd.

The last trading date for the company's shares is Sept. 17. The shares will be delisted Oct. 1, which is also the effective date of the company's share swap with Shin Kong Financial.

Shin Kong Financial, which already owns a 33.45% stake in MasterLink Securities, is in the process of acquiring the remaining stake in the company through a share swap. The exchange ratio for the swap was originally set at 1 common stock of MasterLink to be exchanged for 0.96 common shares of Shin Kong Financial. However, the unsecured corporate bonds issued by Shin Kong Financial have been converted since the agreement was signed in April. The share exchange ratio was changed to 1 common share of MasterLink to be exchanged for 0.9890 common shares of Shin Kong Financial.