Standard Chartered Plc today announced that Standard Chartered Bank, its subsidiary company, would be launching an offer for 100% of the issued and to be issued share capital of Hsinchu International Bank.

Hsinchu is the seventh largest private sector bank in Taiwan. The offer price for Hsinchu’s entire share capital is a total of £0.65b, at 24.50 New Taiwanese Dollars per share.

Acquisition of Hsinchu is “subject to a minimum acceptance condition of 51 per cent and to the satisfaction of remaining regulatory consents”, a statement said today. The acquisition is expected to be finished on November 2006