# Taiwan State-Owned Financial Holdings Merge

> Taiwan's four state-owned financial groups merge into one asset manager by 2028.
- Title: Taiwan State-Owned Financial Holdings Merge · BigGo Finance
- Summary: Taiwan's four state-owned financial groups merge into one asset manager by 2028. Taiwan's four state-owned financial holding companies will merge into a…
- Keywords: taiwan, first financial holding, mega financial holding, taiwan cooperative financial holding, hua nan financial holdings, first securities investment trust, merger, asset management, january 1 2028, nt 390.4 billion, finance, markets
- Source: BigGo Finance — https://finance.biggo.com/news/540e0069-bf0b-4d21-95d5-d19607014642
- Author: BigGo Finance
- Published: 2026-10-22T11:05:16+00:00
- Read time: 1 min
- Topics: taiwan, first financial holding, mega financial holding, taiwan cooperative financial holding, hua nan financial holdings, first securities investment trust, merger, asset management, january 1 2028, nt 390.4 billion, finance, markets
## State-Owned Financial Holdings Approve Merger
Taiwan's four state-owned financial holding companies approved a four-way merger on the 22nd.
## First Securities Investment Trust Survives
First Securities Investment Trust will be the surviving entity and retain its name.
## Share-Swap Ratios Unveiled
Each First Securities Investment Trust share gets 1.4532 Mega International Investment Trust shares, 2.7321 Taiwan Cooperative Investment Trust shares, and 4.4140 Hua Nan Investment Trust shares.
## Post-Merger Ownership Structure
First Financial Holding holds 50.3%, Mega Financial Holding 30.4%, Taiwan Cooperative Financial Holding 9.8%, and Hua Nan Financial Holdings 9.5%.
## Combined Assets Under Management
The four asset managers had combined fund assets of about NT$390.4 billion (approximately $12.0 billion) across 99 funds as of the end of August.
## Merger Record Date Set
Jan. 1, 2028 has been tentatively set as the merger record date.
## Regulatory Approval Timeline
The case is expected to be filed with Taiwan's Financial Supervisory Commission Banking Bureau before the end of October and will take effect after regulatory approval.
## Post-Merger Market Position
The combined entity will rank 12th in the market by assets under management, aiming to break into Taiwan's top ten.
## Employee Retention Plan
Employee arrangements will offer all staff three years of employment rights, retention bonuses, early-retirement and voluntary-separation programs.
## Key takeaway

Taiwan's four state-owned financial holding companies will merge into a single asset management entity by January 2028, creating the country's largest state-owned asset manager.