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Taiwan's Ta Chong Bank catches eye of Carlyle of the US, MBK of SKorea - report


Published : Fri, 08 Jun 2007 01:58
By : Agencies
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TAIPEI (XFN-ASIA) - South Korean private equity fund MBK is interested in acquiring 33 pct of Ta Chong Bank Ltd and Carlyle Group of the US is eyeing a 35 pct stake in the bank, the Economic Daily News reported.

The newspaper, without identifying its sources, said Ta Chong Bank planned to attract foreign strategic investors by offering new shares through private placements or an issue of global depositary receipts (GDRs).

The bank's annual general meeting next Tuesday will discuss fundraising, including offering up to 500 mln new shares, issuing 7 bln twd-worth of convertible bonds and issuing 150 mln usd-worth of GDRs, the newspaper reported.

(1 usd = 33.00 twd)

adela.lin@afxasia.com

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