A South Korean asset management company has acquired a 65 percent stake in SJC Securities Corporation to increase its ownership to over 80 percent.
The Ho Chi Minh City-based brokerage recently announced that 11 individual shareholders had sold their 65 percent stake to Asam Asset Management Co. Ltd.
SJC, established in 2008, had accumulated losses of over VND21 billion ($907,000) as of June.
Last year its revenues were VND4.1 billion, up 24 percent from 2018.
Related: How to acquire an existing business in Vietnam
Asam, which manages around $265 million in assets, established operations in Vietnam in 2018 with a focus on financial research and consultancy.
Last month South Korea’s Kwangju Bank fully acquired Morgan Stanley Gateway in Vietnam for VND382 billion and changed its name to JB Securities Vietnam, VNExpress, a local media reported
There are now eight brokerages in Vietnam in which South Korean investors have a stake, according to VNExpress.
In related development, webinar Inside Out will be organized to provide business briefings and insights for Vietnam’s post-Covid investment opportunities.
Global Business Services (GBS) LTD and Vietnam Insider join hands to present the “Inside Out” webinar series, shedding light on Vietnam’s situation during the Covid-19 period to support foreign investors dealing with a dynamic business, regulatory, legal and operational landscape.
In this upcoming webinar, they invited 3 speakers from an international enterprises and a leading investment consulting firm in Vietnam to share their views and insights.
Join this webinar to find out:
- The challenges that investors face as a result of the COVID-19 pandemic and how to overcome this to setup your business in Vietnam
- Legal framework of doing business in Vietnam as foreign investors
- Real examples of starting a new business and acquiring an existing business in Vietnam
- Tips on working engaging investment consulting firm and local authorities in Vietnam
Contact Rahn Wood at rahn@gbs.com.vn or visit https://gbs.com.vn for more details.
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Source: Vietnam Insider