HÀ NỘI — The South Korean financial group Hana Financial Investment (HFI) has acquired a 35 per cent stake in BIDV Securities (BSC) in the form of private placement with a total transaction value of nearly US$117 million.
After completing the transaction, HFI and BSC will launch strategic cooperation projects to increase the value of BSC.
Hana Financial Investment will support BIDV Securities Joint Stock Company to accelerate the digital transformation process and become a digital securities company in Việt Nam.
HFI plans to help BSC improve the quality of brokerage services, expand the customer base through optimising the digital trading platform as well as expand its business into the field of fund management.
This is expected to help BSC build a comprehensive ecosystem of financial products and services for sustainable development as well as maximising corporate value.
BSC was established on November 26, 1999, with head office in Hà Nội. Its largest shareholder is the Bank for Investment and Development of Việt Nam, holding 79.94 per cent of the capital. BSC was the 11th largest stock brokerage in Việt Nam in 2021.
BSC’s main business activities include securities brokerage, underwriting, investment consulting, derivatives trading, proprietary trading, and investment banking. In the fiscal year 2021, the company achieved was in the top 26 for equity size, and top 11 in stock brokerage market share, and achieved a profit of $15 million, equivalent to an ROE ratio of 22.2 per cent.
In the near future, the technology departments of HFI will conduct a survey of the current information technology infrastructure and trading platform of BSC, the weaknesses of the Vietnamese stock market to provide a strategic solution to strengthen the digital platform for BSC. VNS