Shin Kong Financial to be delisted on July 24 after merger

Taipei, July 14 (CNA) Shares of Shin Kong Financial Holding Co. will be delisted from the Taiwan Stock Exchange (TWSE) on July 24, when the company finalizes its merger with Taishin Financial Holding Co., the exchange said.

The TWSE said the delisting is scheduled because Shin Kong Financial will cease to exist after the merger, with Taishin Financial becoming the surviving entity.

The delisting will end more than 23 years of Shin Kong Financial's presence on the local main board, where its stock began trading on Feb. 19, 2002, the TWSE said.

Trading of Shin Kong Financial was suspended starting Monday, clearing the way for its delisting on July 24.

Trading of Taishin Financial shares, however, will continue on the main board as the merger proceeds, the exchange said.

The two companies first announced the merger deal in August 2024. It was approved by their shareholders in October 2024, cleared by the Fair Trade Commission in January 2025, and received final approval from the Financial Supervisory Commission in late March 2025.

The merged company will be named TS Financial Holding Co. and is set to become Taiwan's fourth-largest financial holding firm by assets.

According to Taishin Financial President Welch Lin (林維俊), mergers of the major subsidiaries under the two financial holding firms are scheduled for completion by the end of June 2026.

Lin said that after the merger, TS Financial is expected to offer more comprehensive one-stop services, helping it gain a larger market share and leverage artificial intelligence applications to further strengthen its position.