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Shin Kong Financial's VP Wu Hsin-Ju Sells Shares Early, Opts Out of Merger

Shin Kong Financial's VP Wu Hsin-Ju Sells Shares Early, Opts Out of Merger

Wu Hsin-Ju, daughter of former Shin Kong Financial Chairman Wu Dong-Jin, has filed to transfer all 3630 shares of Shin Kong Financial Holdings on April 25, indicating her unwillingness to wait for the merger share exchange with Taishin Financial. The merger between Taishin Financial (2887) and Shin Kong Financial (2888) is scheduled for July 24, when Shin Kong shareholders will convert to Taishin shareholders based on an agreed ratio. Her decision as a director of Shin Kong Financial Holdings has raised significant market speculation.

The board of Shin Kong Financial Holdings consists of 15 directors, and Wu Hsin-Ju is also a representative of the Shin Kong Wu Huo-Shih Cultural Foundation. Notably, she purchased over 2400 shares this year, and she will not hold shares in the merged company. Given the recent rise in stock prices, if calculated at the current price of 11.45 NTD, her stock transfer could yield a profit of approximately 41.57 million NTD, indicating a substantial gain at the time of sale.