The story
In September 2003, Fubon bought roughly 55% of International Bank of Asia from Arab Banking at a price of NT$19 billion, or 1.16 times of the net asset value of the bank. The acquisition of Jih Sun Financial Holding by Fubon was approved by shareholders of both companies in November 2021.
From Wikipedia’s article on Fubon Financial Holding, shared under CC BY-SA 4.0.4