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Biz News Korea(Eng)
Mirae Asset Daewoo Securities to merge with Mirae Asset Securities
- Collected
- 2016.11.05
- Distributed
- 2016.11.07
- Source
- Go Direct
Under the plan, one common share of Mirae Asset Securities will be exchanged for 2.97 shares in Mirae Asset Daewoo Securities. Mirae Asset Daewoo Securities would merge with Mirae Asset Securities.
If the plan goes as scheduled, it would become the nation’s largest securities firm with 6.7 trillion won ($5.86 billion) in equity capital starting from December 29.
“The merger process of the two companies has been carried out thoroughly over the past six months, and once the merger is completed, the company could be more competitive and have expertise to compete with its global competitors,” said Hong Sung-Guk, president of Mirae Asset Daewoo Securities.
The merged entity would be named Mirae Asset Daewoo and its new shares are expected to be listed on January 20 next year.
Mirae Asset Daewoo Securities shares ended on Friday at 7,770 won, up 230 won, or 3.05 percent, from the previous session. Mirae Asset Daewoo Securities shares ended at 22,800 won, up 1,050 won, or 4.83 percent.
By Han Woo-ram
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