Mega Financial Holding Co (
"To help expand the financial group's business scope as well as to enhance the banking units' business scale and market share, [we] plan to join the bid to buy 1.4 billion preferred shares in Chang Hwa," Mega Financial said in a statement to the Taiwan Stock Exchange.
Currently, there are two banking arms under Mega Financial -- International Commercial Bank of China (中國商銀) and Chiao Tung Bank (交通銀行).
By acquiring Chang Hwa, Mega Financial's market share, measured in terms of bank loans, would rise to 12 percent from 7.2 percent currently, Joseph Shieh (謝劍平), Mega Financial's executive vice president, told Dow Jones Newswire yesterday.
Buying the 1.4 billion new shares, representing a stake of 22 percent in the sixth-largest Taiwanese bank by assets, will cost a bidder at least NT$25.17 billion (US$786.6 million) based on the offering's floor price of NT$17.98 a share which Chang Hwa's board set on June 24.
Mega Financial, the nation's second-largest financial service provider by assets, said it would have to pay for the stake between Sept. 26 and Sept. 28 should it win the bid.
The company plans to use its own capital to buy the Chang Hwa stake.
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest contract chipmaker, yesterday said its materials management head, Vanessa Lee (李文如), had tendered her resignation for personal reasons. The personnel adjustment takes effect tomorrow, TSMC said in a statement. The latest development came one month after Lee reportedly took leave from the middle of last month. Cliff Hou (侯永清), senior vice president and deputy cochief operating officer, is to concurrently take on the role of head of the materials management division, which has been under his supervision, TSMC said. Lee, who joined TSMC in 2022, was appointed senior director of materials management and
Nvidia Corp CEO Jensen Huang (黃仁勳) on Thursday met with US President Donald Trump at the White House, days before a planned trip to China by the head of the world’s most valuable chipmaker, people familiar with the matter said. Details of what the two men discussed were not immediately available, and the people familiar with the meeting declined to elaborate on the agenda. Spokespeople for the White House had no immediate comment. Nvidia declined to comment. Nvidia’s CEO has been vocal about the need for US companies to access the world’s largest semiconductor market and is a frequent visitor to China.
Hypermarket chain Carrefour Taiwan and upscale supermarket chain Mia C’bon on Saturday announced the suspension of their partnership with Jkopay Co (街口支付), one of Taiwan’s largest digital payment providers, amid a lawsuit involving its parent company. Carrefour and Mia C’bon said they would notify customers once Jkopay services are reinstated. The two retailers joined an array of other firms in suspending their partnerships with Jkopay. On Friday night, popular beverage chain TP Tea (茶湯會) also suspended its use of the platform, urging customers to opt for alternative payment methods. Another drinks brand, Guiji (龜記), on Friday said that it is up to individual
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