30 C
Ho Chi Minh City
Sunday, November 27, 2022

Hana Securities becomes BSC’s strategic shareholder

The Saigon Times

Must read

HCMC – South Korea’s Hana Securities has recently poured close to VND2,700 billion into BIDV Securities Company (BSC), which raises the latter’s equity to VND4,500 billion and makes Hana Securities a strategic shareholder of the Vietnamese stock brokerage.

This is considered one of the key transactions that affirm the sustainable strategic cooperation between the Commercial Bank for Investment and Development of Vietnam (BIDV) and Hana Financial Group.

For a capital-intensive sector as securities, financial potential is a decisive factor for success. Under the deal inked today, September 26, Hana Securities acquires over 65.7 million shares for VND41,000 each.

With the move, BSC is expected to have additional strength to ramp up its business activities, invest in digital transformation and develop a financial services ecosystem.

After becoming a strategic shareholder of BSC, along with major shareholder BIDV, Hana Securities will team up with BSC to map out strategies and business plans, with a focus on developing the information technology system and digital products, improving asset management by expanding business activities into fund management, and consulting on risk management in line with international practices and standards.

To get well-prepared for the long-term cooperation plan, Hana Securities’ experts were sent to BSC to survey the information technology system, product characteristics and business environment in Vietnam.

Closing the trading session today, the BSI stock of BIDV Securities Company fell 2.4% against the previous session at VND28,500, in line with the bearish mood on bourse.

The benchmark VN-Index of the Hochiminh Stock Exchange shed 28.93 points, or 2.4% versus last Friday at 1,174.35, with decliners outnumbering advancers by 462 to 42.

Trade on the southern bourse soared around 55% in both volume and value compared to the previous session at nearly 485 million shares and some VND11.2 trillion. Shares traded in put-through transactions contributed roughly VND1.5 trillion to the overall value.

In the VN30 basket, only lender VIB and gas firm GAS closed in positive territory as they gained 1% each. Property developer NVL stood at its reference price, while the remaining 27 stocks in the basket declined over 1% each.

On the Hanoi bourse, the HNX-Index lost 8.76 points, or 3.31% over the session earlier at 255.68, with 41 winners and 164 losers. More than 82 million shares worth almost VND1.6 trillion were traded on the northern bourse, improving 47% in volume and 55% in value against last Friday.

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest articles