South Korea's NH Investment & Securities Co. Ltd. decided to invest 30.4 billion won in unit PT NH Korindo Securities Indonesia, The Chosun Ilbo reported.
NH Investment & Securities' board approved the plan Dec. 27. The company will invest the capital into the Indonesian unit by acquiring its new shares. NH Korindo Securities Indonesia's equity capital will increase to 52.5 billion won from 22 billion won. The company said the capital injection would allow it to expand its investment banking operations in Indonesia.
NH Korindo Securities Indonesia registered an operating income of 2 billion won from its wholesale and retail operations in 2017.
As of Dec. 28, US$1 was equivalent to 1,115.32 South Korean won.