Many securities firm change names after offering shares to strategic partners

Gia Quyen Securities Joint Stock Co (coded EPS) has lately announced to change its name into KIS Vietnam Securities Joint Stock Co (KIS) under the adjustment licence No 19/GPDC-UBCK issued by the State Securities Commission. Previously, the company has already sold 49 percent of the total shares to South Korean partner of Korea Investment & Securities Co (KIS) in early December. After this business affair, the company’s chartered capital was raised from 135 billion dong to 263 billion dong.



Due to unfavourable conditions in Vietnamese stock markets, many securities companies found it hard to survive. One of the solutions that these firms have chosen to maintain their existence in the market was to offer shares for the foreign strategic partners, and change the company’s name.



Apart from EPS, the state securities commission have already approved for other companies such as changing the name of Gia Anh Joint Stock Co (GASC) into Hamico Securities Joint Stock Co; Bien Viet Securities Joint Stock Co (CBV) into Woori CBV Securities JSC; E-Viet Securities Co into Navibank Securities Co, Click & Phone Securities Co into Golden Bridge Vietnam Securities Co, Viettranimex Securities Co into Lien Viet Securities Co and Golden Vietnam Securities Co into Kenaga Vietnam Securites Co.

Tags: Vietnam business, Vietnam business news

Posted by VBN on Mar 30 2011. Filed under Enterprises. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry