CTBC Financial's (TPE:2891) subsidiary, Taiwan Life Insurance, will invest in a joint venture company for the Taichung Sports Industry Park BOT project, according to a Friday filing with the Taiwan Exchange.
Under the agreement, the unit will subscribe to no more than 2.59 billion shares at NT$10 a piece, for up to NT$25.9 billion.
The investment will grant the unit a stake of 99.9% in the JV.
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