TAIPEI, Oct 12 (Reuters) - 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 will sell the shares at T$60 each, giving an annual dividend yield of 3.8 percent, said the sources, who asked to speak on the condition of anonymity as the matter has not been made public. When contacted, Cathay Financial said it has made an application to Taiwan regulators for a share sale, without elaborating on the details. (Reporting by Emily Chan; Writing by Faith Hung; Editing by Muralikumar Anantharaman)
Cathay Financial plans to raise TWD 49.998bn ($ 1.88 ) through an issue of preferred shares, selling each share for annual ($ 1.88 ), an annual dividend yield of 3.8% , according to two anonymous sources with direct knowledge. Cathay Financial confirmed that it has made an application to TAIPEI regulators for a share sale but declined to elaborate further.