KGI Securities has sealed a deal to buy Taishin Securities for NT$29 billion $876 million from Taishin Financial Holdings to consolidate its position in Taiwan's brokerage industry.
Taishin Financial is selling the brokerage business to improve its cash position and key ratios. As a result of the deal, its capital adequacy ratio will increase to 150% from 113% and its leverage ratio will fall to 95% from 127%.
In a statement announcing the deal, Taishin Financial said it may use some of the cash it realises from the sale to strengthen its banking interests overseas. Media has already been speculating that Taishin Financial is waiting for an opportune time to strengthen its ties with...
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