Date
27 April 2018

Far Eastern unit may invest in Bank of Chongqing IPO, paper says

Far Eastern International Bank Co. Ltd., the banking arm of Taiwan’s Far Eastern Group, is expected to raise NT$5 billion (US$168.95 million) through a private share placement or global depositary receipts (GDR) issue, with some of the proceeds possibly used to invest in Bank of Chongqing during the latter’s initial public offering, Commercial Times reported Thursday, without citing any source. Bank of Chongqing is expected to launch its IPO in the fourth quarter of 2013, it said. The Taiwanese bank will hold a board meeting on October 16 to discuss the fundraising, the report said.

– Contact HKEJ [email protected]

TL/AC/RC

 

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