China Development Financial Holding Corporation

China Development Financial Holding Co., Ltd. (CDF; Chinese: 中華開發金融控股股份有限公司; pinyin: Zhōnghuá Kāifā Jīnróng Kònggǔ Gǔfèn Yǒuxiàn Gōngsī) is a Financial Holding Corporation in Taiwan. It mainly does business with its key subsidiaries the CDIB Capital Group, KGI Securities and KGI Bank. CDF’s services are mostly in direct investments and corporate finance markets. In particular, they hold 30% of the market share for Direct Investment Services in Taiwan.

China Development Financial Holding Corporation
TypeBank Holding Company, Public Company
IndustryFinance
Founded28 December 2001
HeadquartersSongshan, Taipei, Taiwan
Key people
Chairman: Chang Chia-juch
General Manager: Yang Wenjun
Websitehttp://www.cdibh.com/

Development History

On 28 December 2001 the China Development Industrial Bank (CDIB) established the CDF by way of a stock swap. On November 8th, 2002 the Grand Cathay Securities Corporation and Elite Securities became subsidiaries of CDF through a stock swap. On December 31st, 2003 CDF merged Grand Cathay Securities and Elite Securities.

In 2005, CDF planned to acquire Jinding Securities, however CDF was not able to get Jinding Securities original management team to agree. After four years of continuing to buy stocks, in 2009 CDF had finally held a 48% stake in Jingding Securities, but following five years of controversy CDF was ultimately unable to merge with Jingding Securities.

In 2012, CDF publicly acquired the second largest securities firm in Taiwan, KGI Securities, for NT$ 54.6 billion, with the largest merger in the history of Taiwan. KGI was acquired at NT$ 5.5 per share cash at a 1.2 to 1 exchange rate. The exchange was complete on January 18th, 2013 and CDF acquired 100% of the stock rights for KGI.[1] On June 22nd of that same year, KGI Securities merged with Grand Cathay Securities Corporation with KGI being the surviving company.

In 2014, CDF acquired Cosmos Bank as a subsidiary at the cost of NT$ 23.09 billion, and in 2015 Cosmos Bank became known as “KGI Commercial Bank”.[2][3][4][5] From this point on, CDIB’s Corporate Finances and Financial Markets were ceded to KGI Commercial Bank. [6]

See also

References
  1. 夏淑賢 (2013-01-06). "凱基證 明最後交易日 當日未賣出投資人 將換股成為開發金股東". 經濟日報.
  2. 田裕斌 (2014-02-10). "開發金控砸230億 併購萬泰銀行" (in Chinese). 中央通訊社. Retrieved 2014-02-10.
  3. 陳瑩欣、林巧雁 (2014-09-16). "併入開發金 萬泰銀下市". 台灣蘋果日報. Retrieved 2014-10-09.
  4. 陳瑩欣 (2014-10-09). "萬泰銀掰掰！ 正式更名為凱基銀行". 台灣蘋果日報即時新聞. Retrieved 2014-10-09.
  5. 田裕斌 (2014-10-09). "萬泰銀走進歷史 改名凱基銀行" (in Chinese). 中央通訊社. Retrieved 2014-10-09.
  6. 楊筱筠 (2015-05-05). "凱基銀讓與完成 開發金拚總資產破兆" (in Chinese). 聯合報. Retrieved 2015-05-12.
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