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Korea Investment & Securities to acquire Indonesian securities company

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Korea Investment & Securities to acquire Indonesian securities company

Korea Investment & Securities Co. Ltd., a unit of Korea Investment Holdings Co. Ltd., signed an agreement to acquire a 75% stake in Jakarta-based PT. Danpac Sekuritas for about 40 billion South Korean won.

Danpac Sekuritas is a medium-sized securities company. Korea Investment & Securities plans to make Danpac Sekuritas one of the top 10 securities companies in Indonesia by introducing its South Korean trading platform in the country and upgrading local bond brokerage and retail brokerage sales infrastructure.

The South Korean company said it expects to receive approval from Indonesian authorities in early 2018 to relaunch Danpac Sekuritas as a subsidiary.

Korea Investment & Securities said its strategy in Indonesia will be based on its successful M&A experience in Vietnam. The company acquired a small brokerage company in Vietnam in 2010 and then turned it into one of the top 10 companies in the country.

Danpac Sekuritas was established in 1994 and provides a range of services for corporate and individual investors as well as pension funds, according to its website.

As of Dec. 11, US$1 was equivalent to 1,086.60 South Korean won.