[President Securities] Announcement on Acquiring Substantial Control of President Securities Investment Trust Corp.
President Securities Corporation announced that on May 20, 2026, it acquired substantial control over President Securities Investment Trust Corp. (President SIT), previously an equity-method affiliate, by obtaining half of the board seats in a re-election. As a result, President SIT becomes a consolidated subsidiary, with accounting treatment following IFRS. The company expects to recognize an investment gain of approximately NT$2.16 billion from this transaction.
📋 Article Processing Timeline
- 📰 Published: May 20, 2026 at 09:00
- 🔍 Collected: May 21, 2026 at 08:00 (23h 0m after Published)
- 🤖 AI Analyzed: May 21, 2026 at 08:51 (51 min after Collected)
1. Date of occurrence: 2026/05/20
2. Company name: President Securities Corporation
3. Relationship to the Company: The Company
4. Mutual shareholding ratio: Not applicable
5. Reason for occurrence: The Company has acquired substantial control over its equity-method investee, President Securities Investment Trust Corp., by obtaining one-half of the board seats in a full re-election of directors and supervisors. Consequently, President Securities Investment Trust Corp. transitions from an equity-method affiliate to a subsidiary with control and will be included in the consolidated financial statements. The impact of this business combination will be recognized and measured from the date of obtaining control, in accordance with International Financial Reporting Standards (IFRS).
6. Countermeasures: The Company will proceed with subsequent accounting treatment and information disclosure in accordance with relevant laws and IFRS. We will also continuously assess the impact of acquiring this control on the Company's financial position and operating results.
7. Other matters to be specified: Control was obtained by securing one-half of the board seats at President Securities Investment Trust Corp. In accordance with IFRS 3 "Business Combinations", the previously held equity interest will be re-measured at fair value. The preliminary estimated gain on disposal of investment to be recognized is approximately NT$2,160,092 thousand. The financial impact will be handled as required by regulations, and a supplementary announcement will be made upon confirmation of the recognized amount.
2. Company name: President Securities Corporation
3. Relationship to the Company: The Company
4. Mutual shareholding ratio: Not applicable
5. Reason for occurrence: The Company has acquired substantial control over its equity-method investee, President Securities Investment Trust Corp., by obtaining one-half of the board seats in a full re-election of directors and supervisors. Consequently, President Securities Investment Trust Corp. transitions from an equity-method affiliate to a subsidiary with control and will be included in the consolidated financial statements. The impact of this business combination will be recognized and measured from the date of obtaining control, in accordance with International Financial Reporting Standards (IFRS).
6. Countermeasures: The Company will proceed with subsequent accounting treatment and information disclosure in accordance with relevant laws and IFRS. We will also continuously assess the impact of acquiring this control on the Company's financial position and operating results.
7. Other matters to be specified: Control was obtained by securing one-half of the board seats at President Securities Investment Trust Corp. In accordance with IFRS 3 "Business Combinations", the previously held equity interest will be re-measured at fair value. The preliminary estimated gain on disposal of investment to be recognized is approximately NT$2,160,092 thousand. The financial impact will be handled as required by regulations, and a supplementary announcement will be made upon confirmation of the recognized amount.