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 16,960.57 0.72
Arrow Nasdaq 4,449.56 0.50
Arrow S&P 1,978.34 0.48
Arrow FTSE 6,791.55 0.44
Arrow DAX 9,644.01 1.53
Arrow CAC-40 4,330.55 1.82
Arrow Nikkei 15,457.87 1.13
Arrow H.Seng 24,216.01 0.31
Arrow Sensex 26,126.75 0.55





where to buy

cheap wedding dresses

online - weddingdresstrend.com

Buy cheap Nike Mercurials cleats at mercurialscleats.com
cheap wedding dresses on SiteSteer.com - Best Online Wedding Store


Banking Review 2013


Buy direct from

China free shipping trade platform

Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyMay
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln