Commission accepts first securities merger

Tuesday, Dec 10, 2013 08:04

Photo vinacorp

HA NOI (Biz Hub)— The State Securities Commission of Viet Nam has recognised yesterday's merger of Military Bank Securities (MBS) and VIT Securities (VITS), according to Vneconomy newspaper.

This was the first merger between two securities companies on the Viet Nam stock market and marked the pioneer step in restructuring securities companies.

The new company was named MBS, with charter capital of VND621.24 billion (US$29.58 million). Leaders of the VITS did not take part in managing the new company.

The HCM City and Ha Noi Exchange yesterday also recognised membership of MBS.

MBS will provide five services, including brokerage, proprietary trading, underwriting, advisory and securities custody services.—VNS

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