Crisis Management for a Conflict with North Korea
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三商壽、玉山金婚事明天宣布！2檔股票及其權證暫停交易
SinoPac Life and E.SUN Financial Marriage Announcement Tomorrow! Trading Suspended for 2 Stocks and Their Warrants
Yahoo Finance | Local Language | News | Nov. 6, 2025 | UndeterminedMergers & Acquisitions
E.SUN Financial (2884) and San-Shang Meibang Life Insurance (2867) are set to announce a merger, with trading in their stocks and related warrants suspended on November 5, 2025, by the Taiwan Stock Exchange due to material information pending disclosure. San-Shang Holdings (2905) will also have its trading suspended. E.SUN Financial is scheduled to hold a press conference on November 5 to explain the details. Reports indicate that E.SUN Financial outbid CTBC Financial for San-Shang Life at NT$8.2 per share in a deal worth about NT$46.7 billion.
Despite the acquisition news causing a dip in E.SUN Financial’s share price and foreign investors selling over 220,000 lots, retail investors have increased their holdings, pushing shareholder numbers to a one-year high of over 650,000. San-Shang Holdings has seen a rally, primarily benefiting from its subsidiary San-Shang Life’s acquisition theme, though analysts recommend investors consider taking profits due to already priced-in gains.
San-Shang Meibang Life Insurance, with NT$1.6 trillion in assets and ranking seventh among domestic life insurers, reported a turnaround to profitability with a cumulative net profit of NT$940 million in the first three quarters of 2025. The company has actively adjusted its capital structure and asset allocations to comply with the upcoming adoption of IFRS 17 and Taiwan's new solvency regime effective January 1, 2026. It maintains a large base of policyholders and agents, aiming to ensure long-term stability through potential strategic investors.
The Financial Supervisory Commission has emphasized oversight of the acquisition, requiring board approvals before regulatory review, while the Taiwan Stock Exchange continues to investigate material information disclosure related to the deal. CTBC Financial, which lost the bid, has faced scrutiny over its announcement practices but confirmed compliance with regulations.
Recent market activity shows Taiwan stocks rose in late October 2025, while foreign investors showed significant net-selling in E.SUN Financial amid acquisition concerns. E.SUN Financial also recently issued NT$231 million in senior unsecured bonds with a 1.65% coupon rate maturing in 2030. The merger marks a significant development in Taiwan’s financial-insurance sector ahead of major regulatory changes next year.