Taishin Financial’s share price soared 14% on the first day after the announcement of its link-up with Asian private equity firm Newbridge Capital, and gave a shot in the arm to Taiwan’s banking sector. Finally, it seemed, someone wanted to invest in a Taiwanese bank.
Newbridge’s investment amounts to NT$27 billion (US$836 million), split into three parts: common shares (30% of the total), convertible preferred shares (44%) and convertible bonds (26%). All three types of instruments have a mandatory lock-up period of three years.
“We have been looking at the Taiwanese banking sector for years and waiting for a good opportunity to arise,” says Weijian Shan, co-managing partner at Newbridge Capital in Hong Kong.
Access this research
Enter your work email address to sign in or check whether your organisation already has access to Euromoney.
