Mon, Sep 07, 2015 - Page 14 News List

Taiwan Business Quick Take

Staff writer


HTC dropped from index

Shares of smartphone maker HTC Corp (宏達電) will be removed from the Taiwan 50 Index after a quarterly index review by the Taiwan Stock Exchange (TWSE) and FTSE Group, the exchange said on Friday. The TWSE said that as HTC’s market capitalization was ranked 61st among the more than 800 listed companies on the main bourse, the exchange and FTSE have decided to remove the stock from the Taiwan 50 Index, in which the constituents are among the top 50 in terms of market capitalization. Instead, textile manufacturer Eclat Textile Co (儒鴻) will be added to the Taiwan 50 Index, the exchange said. The changes will take effect on Sept. 21.


Cathay completes deal

Cathay Financial Holding Co (國泰金控) on Friday said its brokerage unit, Cathay Securities Co (國泰證券), had completed the acquisition of Horizon Securities Corp’s (宏遠證券) subsidiary in Hong Kong. Cathay Financial announced the HK$40 million (US$5.16 million) deal in February. The nation’s biggest financial services provider by assets has shifted its merger and acquisition (M&A) focus to overseas targets as candidates abroad present much better value, company president Lee Chang-ken (李長庚) said last Monday.


CHB posts NT$9.9bn profit

State-run Chang Hwa Commercial Bank (CHB, 彰化銀行) on Friday posted NT$1.43 billion (US$43.6 million) in pre-tax income for last month, the lender said in a statement. Pre-tax profit totaled NT$9.9 billion for the first eight months of the year, with NT$8.36 billion in net income, or earnings per share of NT$0.99, the statement said.

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