Korea Investment & Securities Buys Indonesian Brokerage for ‎‎$36.6 Million

Brokerage house Korea Investment & Securities Co. Ltd. has acquired a 75 percent stake in a mid-sized Indonesian securities firm for USD 36.6 million ‎(40 billion won)‎ in early December, according to a company statement.

Korea Investment Holdings announced that its subsidiary, Korea Investment & Securities, has bought a major stake in Danpac Sekuritas ‎as part of its efforts to strengthen overseas business. It confirmed that all relevant approvals including those from Otoritas Jasa Keuangan of Indonesia have been obtained.

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The purchase signals renewed interest by Korean investors in Indonesian markets. Danpac Sekuritas is a securities brokerage company incorporated in Indonesia, and is a member of the Indonesia Stock Exchange .

Korea Investment & Securities Co., Ltd. provides financial services and offers securities dealing, brokerage, underwriting, Online Trading , and asset management services. The acquisition is in line with the company’s strategy to expand its securities brokerage business as an integral part of a long-term plan to become Asia's biggest investment bank. This also includes deepening its presence in key Asian markets such as Indonesia.

Korea Investment Holdings has recently recapitalized Korea Investment & Securities and become aggressive toward further acquisitions after having failed to take over Daewoo Securities and Hyundai Securities last year.