The emblem of Hanyang Securities is seen on this undated picture. Yonhap
By Yi Whan-woo
Hanyang Securities, a decades-old Korean brokerage home, is a step away from being owned by non-public fairness agency KCGI after it was put up on the market for the primary time since its institution in 1956.
In response to trade sources on Thursday, the Hanyang College Basis and KCGI are anticipated to finalize the acquisition of Hanyang Securities subsequent week.
Hanyang College Basis is the biggest shareholder of the securities agency with a 16.29 % stake, and the inspiration’s affiliated stakeholders personal an extra 24.7 % stake for a mixed complete of 40.99 % stake.
They mentioned KCGI, as the popular bidder for the sale of Hanyang Securities, requested a weeklong extension to safe funding for the acquisition.
KCGI was named as the popular bidder on Aug. 2 and was given 5 weeks to finish the acquisition.
“KCGI has been contacting 10 corporations to debate funding,” a supply mentioned, noting these corporations included Daol Funding & Securities, Cape Funding & Securities and OK Monetary Group.
The value per Hanyang Securities share was estimated at 65,000 received, and the sale worth was about 244.85 billion received.
The gross sales of Hanyang Securities drew market consideration as Woori Monetary Group was additionally believed to be involved in shopping for Hanyang Securities to assist its brokerage arm Woori Funding Securities develop quick as a newcomer within the trade.
The nation’s fourth largest monetary holding firm, Woori Monetary Group, launched its brokerage arm in a bid to diversify non-banking portfolios.
Hanyang Securities was based in March 1956. It was listed on the benchmark KOSPI in March 1988.
