Brokerage consolidation in Taiwan continues with bid for KGI

Taiwan's China Development Financial Holdings offers $1.8 billion to take over KGI Securities with the aim of merging it with its own brokerage unit Grand Cathay Securities.

Brokerage consolidation in Taiwan continues with bid for KGI
Participants in Taiwan’s securities industry are struggling to cope with a stagnant market

The bid by China Development Financial Holdings CDFH for KGI Securities last week is the latest in a series of takeovers in Taiwan’s securities industry as participants struggle to cope with a stagnant market where daily trading volumes are no longer growing.

In that environment cost control and scale have become increasingly important and, according to a Taiwan-based banker, companies have no choice but to turn to MA to defend their margins.

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