Arab Today, arab today taiwan\s fubon to invest 1b in chinese bank
Last Updated : GMT 20:48:13
Arab Today, arab today
Arab Today, arab today

Taiwan\'s Fubon to invest $1b in Chinese bank

Arab Today, arab today

Arab Today, arab today Taiwan\'s Fubon to invest $1b in Chinese bank

Taipei - AFP

Fubon, Taiwan\'s second-largest publicly listed financial group, said Thursday it plans to invest $6.45 billion yuan ($1.03 billion) to buy an 80 percent stake in China\'s First Sino Bank. Fubon Financial Holding said in a statement it would spend $5.65 billion yuan to acquire the stake in the bank and would subscribe for new shares worth another $800 million yuan after the purchase. The company said the deal, which needs regulatory approval in both Taiwan and China, would boost its profits and allow it to expand services to China-based Taiwanese companies. Fubon became the first Taiwanese bank to invest in China after it acquired a 19.9 percent stake in Xiamen City Commercial Bank in late 2008 via the Hong Kong unit. Shanghai-based First Sino Bank was the first bank to be jointly founded by Taiwanese and Chinese investors in 1997. Longtime political rivals Taiwan and China in 2009 signed a package of agreements on better cooperation in banking, insurance and securities aimed improving ties. The agreements are expected to make it easier for Taiwanese and Chinese banks to buy each other\'s assets, and to make it possible for Chinese to buy shares listed on Taiwan\'s stock market

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today taiwan\s fubon to invest 1b in chinese bank Arab Today, arab today taiwan\s fubon to invest 1b in chinese bank

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today taiwan\s fubon to invest 1b in chinese bank Arab Today, arab today taiwan\s fubon to invest 1b in chinese bank

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today How to do your own Ramadan corner?

GMT 15:53 2017 Saturday ,27 May

How to do your own Ramadan corner?
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday