KB acquires Vietnamese securities firm for US$33mil

bizhub

KB Securities is set to acquire Viet Nam’s Maritime Securities for about 37.8 billion won (US$33.16 million), according to news reports on September 27.

KB has reportedly signed a contract to acquire a 99.4 per cent stake in the Viet Nam’s Maritime Securities. — Photo theinvestor.co.kr

KB Securities is set to acquire Viet Nam’s Maritime Securities for about 37.8 billion won (US$33.16 million), according to news reports on September 27.

KB has reportedly signed a contract to acquire a 99.4 per cent stake in the firm. BKL, a Korean law firm, has been named as the deal advisor.

The acquisition is expected to be closed following regulatory approval from the Vietnamese authorities, which should take two to three months.

KB has been seeking to acquire a local securities company to expand its presence in Southeast Asia, including Viet Nam and Indonesia.

Currently, three Korean securities firms -- Mirae Asset Daewoo, NH Investment & Securities, and Korea Investment & Securities -- have set up their own Vietnamese units. — The Investor

  • Share:

see also

SSC strengthens role in mobilising medium and long-term capital

SSC strengthens role in mobilising medium and long-term capital

Strategic efforts in legal framework development, market supervision and technological modernisation played a key role in maintaining stability and investor confidence in 2024.
Market tumbles as liquidity surges

Market tumbles as liquidity surges

Market breadth was overwhelmingly negative, with 244 stocks declining compared to just 71 advancing. Trading value on the southern bourse rose sharply to VNĐ17.8 trillion (approximately US$698.9 million), marking a 40.1 per cent increase from the previous session.
Tasco to issue 179 million shares for subsidiary investments

Tasco to issue 179 million shares for subsidiary investments

The offering is expected to raise VNĐ1.78 trillion, which will be invested in subsidiaries, including Tasco Auto, Tasco Insurance  and VETC JSC.
A year-end surge in property bond issuance amid financial challenges

A year-end surge in property bond issuance amid financial challenges

The trend underscores a sector grappling with financial challenges, while seeking innovative ways to restructure debts, ensure liquidity and stabilise operations in a volatile market.
Market ticks up on back of blue-chip stocks

Market ticks up on back of blue-chip stocks

However, foreign capital continued to flow out of the market, with a total net selling value of nearly VNĐ50.4 billion on the two main exchanges.