All
 

 

Just in:  

You are here: Home»World»Business & Economy»Taiwan's China Development in record bid for brokerage

TAIPEI: Taiwan's China Development Financial Holding said on Friday it planned to buy KGI Securities, the island's second-largest brokerage, for a record Tw$54.6 billion ($1.9 billion).

China Development said in a statement that its board approved the plan on Thursday and it would offer 1.2 new China Development shares and Tw$5.50 cash for every KGI share.

The deal, pending the financial regulator's approval, would give the two firms a combined market share of 9.5 percent, second only to Yuanta Polaris Securities, which has around 15 percent.

Yuanta Financial Holdings Polaris Securities in 2011 for Tw$48.9 billion in what is currently the island's biggest brokerage merger.

Friday's news gave a boost to shares of both companies, with KGI Securities up by its seven percent daily limit at Tw$12.15 while China Development rose 3.4 percent to Tw$8.63 around noon.

Copyright AFP (Agence France-Presse), 2012


 



 
Index Closing Chg%
Arrow DJIA 16,380.41 1.63
Arrow Nasdaq 4,258.44 0.97
Arrow S&P 1,886.76 1.29
Arrow FTSE 6,310.29 1.85
Arrow DAX 8,850.27 3.12
Arrow CAC-40 4,033.18 2.92
Arrow Nikkei 14,532.51 1.40
Arrow H.Seng 23,023.21 0.53
Arrow Sensex 26,108.53 0.42





where to buy

cheap wedding dresses

online - weddingdresstrend.com


Banking Review 2013


Buy new style hair wigs at cheap price on Ishowigs.com

Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 10, 2014
Reserves $13.401 bln