Cathay Financial Holding , the parent of Taiwan’s largest life insurer, plans to raise T$49.998 billion ($1.6 billion) through an issue of preferred shares, two sources with direct knowledge of the matter said on Wednesday. Cathay Financial Holding plans to raise TWD ##M ( $ 1.6bn ) through an issue of preferred shares , selling each share for $ 60 ( $ USD ) , an annual dividend yield of 3.8 % , according to two anonymous sources with direct knowledge . Cathay has confirmed that it has submitted an application to the government for a share sale but declined to elaborate further .
Cathay Financial Holding plans to raise TWD ##M ( $ 1.6bn ) through an issue of preferred shares , selling each share for $ 60 ( $ USD ) , an annual dividend yield of 3.8 % , according to two anonymous sources with direct knowledge . Cathay has confirmed that it has submitted an application to the government for a share sale but declined to elaborate further .