Most Popular
-
1
Slew of top K-pop stars ready to return from military
-
2
S. Korea, US clinch 2026-30 defense cost-sharing deal in pre-election push
-
3
Military aircraft evacuating S. Koreans in Lebanon returns home
-
4
Concerns raised over chronic labor shortage at state-run center for digital sex crime victims
-
5
BTS-themed moon jar to be unveiled on Hangeul Day
Final hurdle cleared for merger of Mirae Asset Securities, Mirae Asset Daewoo
By KH디지털2Published : Nov. 4, 2016 - 17:21
The last hurdle has been cleared to allow a merger that will create South Korea's largest brokerage firm, as the companies' shareholders approved the deal Friday.
In April, Mirae Asset Securities, the brokerage unit of the Mirae Asset Financial Group, acquired a 43 percent stake in KDB Daewoo Securities Co. from the state-run Korea Development Bank in a deal worth 2.32 trillion won ($2 billion).
The group changed the name of KDB Daewoo Securities into Mirae Asset Daewoo later that month.
On Friday, Mirae Asset Securities and Mirae Asset Daewoo held extraordinary shareholders' meetings separately, and the shareholders both approved the merger of Mirae Asset Securities by Mirae Asset Daewoo.
On Dec. 29 the merger of the two asset management firms will generate the country's biggest securities firm in terms of capital. The combined company will have 6.7 trillion won in capital.
On the following day, the merged companies are scheduled to register as an integrated entity, with its shares set to be listed on Jan. 20 on the country's main Kospi market. (Yonhap)
In April, Mirae Asset Securities, the brokerage unit of the Mirae Asset Financial Group, acquired a 43 percent stake in KDB Daewoo Securities Co. from the state-run Korea Development Bank in a deal worth 2.32 trillion won ($2 billion).
The group changed the name of KDB Daewoo Securities into Mirae Asset Daewoo later that month.
On Friday, Mirae Asset Securities and Mirae Asset Daewoo held extraordinary shareholders' meetings separately, and the shareholders both approved the merger of Mirae Asset Securities by Mirae Asset Daewoo.
On Dec. 29 the merger of the two asset management firms will generate the country's biggest securities firm in terms of capital. The combined company will have 6.7 trillion won in capital.
On the following day, the merged companies are scheduled to register as an integrated entity, with its shares set to be listed on Jan. 20 on the country's main Kospi market. (Yonhap)
