TS Financial's (TPE:2887) unit Taishin Securities will issue over 1.81 billion new shares for its planned merger with MasterLink Securities.

Each MasterLink Securities common share will be exchanged for 1.1264 Taishin Securities shares, according to a Tuesday Taiwan Stock Exchange filing.

The newly issued shares will have the same rights and obligations as existing common stock.

The final number of shares will be adjusted based on MasterLink Securities' total outstanding shares on the merger's effective date, the company said.