08.17.2001
Lin-Yuan holds 5.8% of UWCCB shares

• Development: Cathay Life Insurance (2805.TT) under Lin-Yuan Group obtained another 10m shares from Taichung Commercial Bank (2812.TT) after market close. Lin-Yuan (5.8% shrs held) is narrowing gap with major shareholder Fubon Group.

• Analysis: Government-linked bank holdings may further Lin-Yuan’s ability to increase control over UWCCB. Several banks may release UWCCB shares today.

• Primasia View: As Lin-Yuan Group continues to bid for shares, Fubon will also be compelled to acquire more UWCCB shares in order to strengthen its controlling stake. These developments should continue to push UWCCB share price higher.