Hana Financial Investment Acquires a 35% Stake in BIDV Securities | Business
Hanoi (VNS/VNA) – Hana Financial Investment Co. Ltd. (HFI), a subsidiary company of Republic of Koreait is Hana Financial Groupacquired a 35% stake in BIDV Securities Joint Stock Company (BSC) in the form of a private placement with a total transaction value of nearly 117 million USD.
After completing the transaction, HFI and BSC will launch strategic cooperation projects to increase the value of BSC.
HFI will support BSC to accelerate the digital transformation process and become a digital securities company in Vietnam.
HFI plans to help BSC improve the quality of brokerage services, expand the customer base by optimizing the digital trading platform, and expand its fund management business.
This should help BSC build a comprehensive ecosystem of financial products and services for sustainable development as well as maximize business value.
BSC was established on November 26, 1999, with its head office in Hanoi. Its main shareholder is the Investment and Development Bank of Vietnam (BIDV), which holds 79.94% of the capital. BSC was the 11th largest brokerage in Vietnam in 2021.
BSC’s main business activities include securities brokerage, underwriting, investment advisory, derivatives trading, proprietary trading and investment banking. In fiscal 2021, the company reached the top 26 by equity size and the top 11 by equity brokerage market share, and made a profit of $15 million, which is equivalent to a ROE ratio of 22.2%.
In the near future, HFI’s technology department will conduct a survey of BSC’s current IT infrastructure and trading platform, weaknesses in the Vietnamese stock market to provide a strategic solution to strengthen BSC’s digital platform. ./.