Mergers are said to be important for the restructuring of securities companies in the domestic stock market. — Image bizlive.vn

HA NOI (Biz Hub) ─ The Viet Nam International Securities Company (VIS) merged with the Dai Tay Duong Securities Company (OSC) after being granted a licence by the State Securities Commission on Tuesday.

The new institution is named Viet Nam International Securities and has a charter capital of VND60 billion, or US$2.86 million. It is authorised to deal in securities brokerage, investment consultancy and depository, the commission stated.

The new firm is headquartered in Ha Noi's Hai Ba Trung District and the staff has been retained.

According to VnEconomy online, a shareholder with four VIS shares will receive a share of the new company, while a shareholder with 13.6 OSC shares will switch to holding a share of the new firm.

State Securities Commission chairman Vu Bang said that the merger aims to achieve operational efficiency, financial safety and better risk management. It is an important milestone in the process of restructuring securities firms in the domestic stock market.

This is the second merger of securities firms in the local market after MB Securities merged with VIT Securities in October 2013. ─ VNS