KGI buys Taishin Securities in Taiwan

KGI Securities buys Taishin's brokerage for $876 million to consolidate its position in Taiwan's brokerage industry.

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...

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