Fubon Financial Holding Venture Capital Corp (富邦金控創投) yesterday said it bought a local professional basketball team in a bid to broaden brand awareness.
The venture capital arm of Fubon Financial Holding Co (富邦金控) said that its board approved the acquisition of the Taiwan Mobile Cloud Leopards, one of seven teams in the nation’s Super Basketball League (SBL).
Taiwan Mobile Co (台灣大哥大) has owned the Cloud Leopards since September 2007.
Photo: CNA
Fubon Financial vice chairman Richard Tsai (蔡明興) is to be the chairman of the new company that operates the basketball franchise, the company said in a statement.
Terms of the deal were not immediately available.
In separate news, Fubon Financial yesterday posted NT$7.01 billion (US$233.75 million) in net income last month, boosting accumulated profit to NT$45.97 billion for the first eight months, or NT$4.49 earnings per share.
The results represented a 79 percent increase over the level last year and marked the highest in the company’s history, the statement said.
The third quarter is normally the high-earnings season for financial institutions as most Taiwanese companies are due to distribute cash and stock dividends.
Fubon Life Insurance Co (富邦人壽), the life insurance subsidiary of Fubon Financial, recorded NT$10.6 billion in cash and stock dividends as of last month, the statement said.
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