IVS to expand to Japan via merger

IVS to expand to Japan via merger

Vietnam Investment Securities Company (IVS) will merge with Japan Securities Incorporated (JSI) to boost the number of customers, financial capability and expand the operation to Japan. — Photo cafef.vn

HÀ NỘI — Vietnam Investment Securities Company (IVS) will merge with Japan Securities Incorporated (JSI) to boost the number of customers, financial capability and expand the operation to Japan.

After the merger, the capital of IVS will increase to VNĐ 三 七 二 billion (US$ 一 六. 五 三 million), IVS said in its statement at the annual shareholder meeting held on Saturday.

The merger will make JSI a department at IVS, and it will focus on the Japanese market only. Current shareholders of JSI will co妹妹it not to withdraw from it in the next three years after the merger is approved by the State Securities Co妹妹ission.

However, the company did not clarify in its statement when the merger would take place.

The merger was also approved by the shareholders of JSI at the firm’s annual shareholder meeting held on March  一 四.

Vietnamese shareholders hold  四 八. 八 七 per cent of JSI’s capital now, including Viglacera Investment and Import-Export JSC ( 一0 per cent).

Japanese shareholders hold the rest of the company’s capital, including the Hong Kong-based Tanamark Investment Ltd ( 二0 per cent), Aizawa Securities Co Ltd ( 一 四. 五 per cent) and Japan Asia Securities Co Ltd ( 一 四. 五 per cent).

In  二0 一 六, IVS earned a total revenue of VNĐ 二 六 billion and a post-tax profit of VNĐ 九 七. 四 million. The figures were  九 五 per cent and only  五 per cent of last year’s targeted earnings. IVS will not pay dividend for last year’s performance.

In the third quarter of  二0 一 六, IVS issued  一 七. 九 million shares to increase its chartered capital from VNĐ 一 六 一 billion to VNĐ 三 四0 billion.

For  二0 一 七, IVS has forecast Việt Nam’s economic growth at  六. 五 per cent to  六. 七 per cent and inflation rate at  四 per cent to  五 per cent, allowing the Government to keep the lending rates low and support the growth of the securities market.

According to the company, Vietnamese economy will reach its short-term peak in three years. — VNS

IVS to expand to Japan via merger

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