Review of Taishin’s Prudential takeover not finished: FSC
By Kao Shih-ching / Staff reporter
The Financial Supervisory Commission (FSC) has yet to approve Taishin Financial Holding Co’s (台新金控) bid for Prudential Life Insurance Co of Taiwan (保德信人壽), although the Fair Trade Commission approved the planned takeover in November last year.
The commission last week said that it needs more information from Taishin Financial, which filed its takeover application on Jan. 8, regarding its financial resources and investment plans.
Taishin Financial in August last year announced that it aims to acquire the life insurer for NT$5.5 billion to NT$8.5 billion (US$193.74 million to US$299.42 million), and that it would take a short-term loan and consider selling 300 million shares of state-run Chang Hwa Bank (CHB, 彰化銀行) to fund the deal.
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2021/02/02 12:17 NT$100 banknotes. NT$100 banknotes. (CNA photo) TAIPEI (Taiwan News) For Taiwanese wanting to put new banknotes in red envelopes for the upcoming Lunar New Year holiday, the country s state-owned financial institutions will provide a banknote exchange service for five days starting Wednesday (Feb. 3). To meet the surging demand for new banknotes ahead of the festive period, the Central Bank will allow people to exchange their old banknotes for new ones through Feb. 9, the Ministry of Finance (MOF) announced Monday (Feb. 1). However, each individual is limited to exchanging their money for no more than 100 new NT$100 cash notes. The exchange service will be offered at 454 designated branches of eight financial institutions, including Bank of Taiwan, Land Bank of Taiwan, Taiwan Cooperative Bank, First Commercial Bank, Hua Nan Commercial Bank, Chang Hwa Bank, Taiwan Business Bank