[President Securities] Announcement on Acquiring Substantial Control of President Securities Investment Trust Corp.
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AI Summary (NQ-processed)
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.