S&P: Shin Kong unchanged

Standard & Poor's said its ratings on Shin Kong Financial Holding Co. Ltd. (BBB/stable/A-3) would not be affected by the company's separate proposals to raise capital and acquire an asset management company.

The agency said that Shin Kong FHC's plan to issue common shares of NT$7 billion through a private placement to Dai-ichi Mutual Life Insurance Co. (A/stable), is unlikely to have a significant impact on the group's capitalization or strategic direction.

According to S&P, Shin Kong FHC also plans to purchase Shinkong Investment Trust Co. Ltd.

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