Taiwan's Taishin to raise $219 mln via share sale

TAIPEI, May 9 (Reuters) - Taishin Financial (2887.TW: Quote, Profile, Research, Stock Buzz), Taiwan's No. 3 financial holding firm, plans to raise T$6.75 billion ($219 million) via a share sale to help it expand overseas and improve its financial structure.

Taishin, whose major investors include Newbridge Capital [NB.UL] and billionaire investor George Soros, plans to sell 450 million shares at T$15 each, a 5 percent discount to its closing price on Thursday, according to a statement filed late on Thursday.

"The economy is getting better and Taiwan-China ties are getting closer. Taishin will grab every expansion opportunity locally or overseas," it said. It gave no timetable for the share sale. Taiwan's broader market index was among the top performers in Asia this year, on expectations of a pick-up in the economy as China-friendly President-elect Ma Ying-jeou and his Nationalist Party (KMT) favour closer business ties with China.

Shares of Taishin had slipped 2.85 percent to T$15.35 by midday on Friday, underperforming the main index's 0.33 percent fall. (US$1 = T$30.8) (Reporting by Faith Hung; Editing by Edmund Klamann)