By: Tien Yu-pin and Frances Huang, Central News Agency
Taipei, April 8 (CNA) Fubon Financial Holding Co., one of Taiwan’s largest financial holding companies, aims to raise NT$36 billion (US$1.11 billion) in funds by issuing 600 million preferred stocks as part of an effort to boost its working capital and strengthen its capital structure.
The issuance of the planned preferred stocks by Fubon Financial, which owns the flagship insurance entity Fubon Life Insurance Co., to issue preferred stocks, is not expected to boost the financial holding company’s capital size and dilute its earnings per share.
Data on the Taiwan Stock Exchange showed that Fubon Financial currently has a paid-in capital of NT$102.34 billion. The company posted NT$3.05 in earnings per share in 2015 on a diluted basis, compared with NT$3.38 recorded a year earlier. [FULL STORY]