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Taiwan's SinoPac Bank to Merge With King's Town Bank

Provided by Dow Jones Mar 30, 2026, 6:16:00 AM

By Jason Chau

Taiwan's Bank SinoPac plans to merge with King's Town Bank, according to a late Friday filing by SinoPac Financial, the parent of both commercial banks.

Bank SinoPac aims to raise a total of 44.76 billion New Taiwan dollars, equivalent to US$1.40 billion, by issuing 1.865 billion shares at 24 New Taiwan dollars apiece, alongside a separate cash component, to acquire all shares of King's Town Bank currently held by SinoPac Financial. SinoPac Financial wholly acquired King's Town Bank last year.

Upon completion of the deal, Bank SinoPac will be the surviving entity of the merger, and King's Town Bank will be dissolved as a result of the merger, it said.

Taipei-listed shares of SinoPac Financial fell 3.0% on Monday.

Write to Jason Chau at jason.chau@wsj.com

(END) Dow Jones Newswires

March 30, 2026 02:16 ET (06:16 GMT)

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