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Korea Investment & Securities to increase capital of Vietnam unit

Korea Investment & Securities Co. Ltd. will increase the capital of its Vietnamese unit KIS Vietnam Securities Corp. to 90 billion South Korean won through a rights issue worth 38 billion won, the Maeil Business Newspaper reported Feb. 1.

The capital increase will allow KIS Vietnam Securities to expand local brokerage operations, as well as investment banking support for South Korean companies operating in the country, the company said.

The company is also preparing to launch Indonesian operations via PT Danpac Sekuritas. The company agreed to acquire a 75% stake in the Jakarta-based securities company in December 2017.

Korea Investment & Securities is a unit of Korea Investment Holdings Co. Ltd.

As of Feb. 1, US$1 was equivalent to 1,071.16 South Korean won.