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VietNamNews

SSC approves merger of two securities companies

Update: July, 12/2014 - 10:06
HA NOI  (VNS) — The State Securities Commission on Thursday approved the merger of Viet Nam International Securities (VISE) and the Dai Tay Duong Securities Joint Stock Company (OSC).

The merger is part of the efforts to restructure securities companies and will be implemented with the swap ratio of 4:1 for VISE and 13.5:1 for OSC, and must ensure that trading is implemented without any interruption.

If the deal goes through, it would be the second merger of securities companies in Viet Nam, after the deal between MB Securities and VIT Securities at the end of last year.

VISE reported an aggregated loss of nearly VND75 billion or US$3.5 million in the first six months of this year. As of the end of March, 55 of the 90 existing securities firms reported aggregated losses, statistics of the finance ministry showed.

Restructuring securities companies was a core issue during the restructuring of the stock market which aimed at developing a more stable and healthy market. — VNS


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