Taishin Financial Holding Co Ltd (台新金控) has briefed the Financial Supervisory Commission (FSC) on a tentative plan to sell new shares to raise funds for the acquisition of Prudential Life Insurance Co of Taiwan (保德信人壽).
While the company has yet to formally apply for FSC approval of the share sale plan, the share sale seems to have a few advantages over previous plans, Banking Bureau Chief Secretary Phil Tong (童政彰) told a videoconference on Tuesday.
Since last year, the commission has rejected several fundraising plans proposed by Taishin Financial due to fuzzy feasibility and unclear financial arrangements.
Under the new plan, Taishin Financial