Asia
Union Bank of Taiwan Unit OKs NT$600 Million Cash Capital Increase
Union Bank of Taiwan's (TPE:2838), Union Securities of Taiwan, approved a cash capital increase via the issuance of 40 million new shares to raise NT$600 million, according to a Monday filing with the Taiwan Exchange.The shares carry a par value of NT$10, with a tentative issue price of NT$15.Employees will subscribe to 10% of the new shares, with the remaining 10% allotted to existing shareholders.Proceeds from the capital increase will be used to strengthen the unit's capital structure.
TPE:2838
