Given current challenging fundraising and bleak merger and acquisition circumstances, a number of Vietnamese groups are looking to financing sources from overseas credit facilities to strengthen their resilience in the face of market fluctuations.
Last week, Taishin Financial Holding Co and the Ministry of Finance announced that they had settled a dispute over state-run Chang Hwa Commercial Bank’s management rights, with Taishin Financial withdrawing its Supreme Court case against the ministry. Taishin Financial also sold 1.048 billion Chang Hwa Bank shares to other financial institutions for NT$19.09 billion (US$636.97 million), or NT$18.2 per share, in a block trade, the company said in a regulatory filing. The agreement ended a 17-year dispute, but at great cost.
In 2005, Taishin Financial outbid six competitors to purchase Chang Hwa Bank’s 1.4 billion special shares for NT$36.57 billion, or
The central bank would press ahead with study and development of a healthy ecosystem for its own digital currency to meet modern needs, but would not get into a race to achieve it, central bank Governor Yang Chin-long (楊金龍) said yesterday.
Taiwan has completed a phase 2 study on a digital currency three months ahead of schedule, building a prototype platform to simulate use of a digital currency in retail payment systems, Yang said in a keynote speech at an event organized by the Financial Information Service Co (財金資訊), which oversees Taiwan’s banking payment and settlement systems.
CTBC Bank (中信銀行), Cathay United
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