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.
