Taipei, May 13, 2008 (CENS)--Foreseeing a bullish securities market domestically, four securities firms, including President Securities Co., Concorde Securities Co., Horizon Securities Co. and Masterlink Securities Co., will raise approximately NT$10 billion (US$327.86 million at US$1:NT$30.5) in funds combined to tap the lucrative domestic securities market.

Many domestic securities firms are optimistic that the weighted share price index of the local bourse will rally to 10,000 points this year, although it has been hovering around 9,000 points over the past several months.

Concorde Securities noted it would raise fresh funds of between NT$2 billion (US$65.57 million) and NT$3 billion (US$98.36 million) through private equity placement and the issuance of convertible bonds. Others will mainly raise fresh funds by way of issuing convertible bonds.

Horizon Securities said it has applied to the Cabinet-level Financial Supervisory Commission (FSC) for issuing NT$860 million (US$28.19 million) in convertible bonds this year.

President Securities said it has also filed an application with the FSC for raising funds. The company said it would set up a liaison office in Xiamen of Fujian Province, mainland China, and is seeking strategic partners there. The company has made a concrete plan to expand presence in mainland market.

Masterlink Securities said it has a plan to issue NT$2 billion (US$65.57 million) worth of convertible bonds this year, but the firm has yet to apply to the securities authority. A Masterlink executive said it`s now a good time to raise funds as the interest rate remains low. The company currently has a 5% share of domestic margin trading market and will use the fresh funds to boost the market share.

Concorde Securities vice president Kang Ching-tai said his company will subscribe to NT$2 billion (US$65.57 million) in fresh funds through private equity placement, in addition to the issuance of convertible bonds.

The company said it would raise fresh funds in two phases. For the first phase, the company will boost capital to reach NT$8 billion (US$262.29 million) to set up a securities investment and trust subsidiary. In the second phase, the company will expand capital to NT$10 billion (US$327.86 million) to tap domestic wealth-management market.

(by Ben Shen)