Wed, Nov 19, 2014 - Page 14 News List

Taiwan Business Quick Take

Staff writer, with CNA


Share issue planned

United BioPharma Inc (聯合生技) yesterday said that it would issue 8.34 million shares under NT$120 to replenish its working capital and finance new drug development. The monoclonal antibody drugmaker said it plans to sell these shares to its current shareholders. The GRETAI Securities Market (GTSM, 櫃檯買賣中心) must first approve the plan and the firm has not finalized a date for implementation, company spokesman Victor Sun (孫潤本) said by telephone.


CHB opens branch in China

Chang Hwa Commercial Bank (彰化銀行, CHB) yesterday opened a branch in Dongguan, China. The branch will focus on corporate customers in the Pearl River Delta, the bank said in statement. The branch aims to turn profit in its first year, allowing it to qualify for yuan operations in the second year after its establishment, the statement said.


Yuan remittances soar

Chinese yuan-dominated remittances hit a new high last month after the central bank lifted a ban to allow Taiwanese banks to conduct yuan transactions in February last year. Central bank statistics showed that yuan remittances through Taiwanese banks’ domestic and offshore units last month totaled 200.444 billion yuan (US$52.75 billion), up more than 62 percent from September’s 123.17 billion yuan.

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