HFT officially became a member of Hanwha Investment & Securities
According to DealStreetAsia, Hanwha Investment & Securities of South Korea has completed the acquisition of 90.05% of its shares in HFT Securities Joint Stock Company (Ticker: HFT) for 5 billion Won (approximately 4.3 million USD).
On April 24, HFT appeared an agreement purchase from foreign investors with the volume of over 9 million shares (90.05% of outstanding shares) at the reference price of VND 12,800 / share, corresponding to the total The value is approximately VND 120 billion. The buyer is confirmed as Hanwha, while the seller is Green Way Logistics JSC, Green Road Development Investment JSC and 6 other individuals.
HFT Securities was formerly known as MeKong securities. HFT has been listed on the Hanoi Stock Exchange (HNX) since the beginning of 2018. HFT is a small-scale securities company in Vietnam with the total assets at the end of 2018 reaching VND 88 billion and profit after tax of VND 5 billion.
Hanwha Investment & Securities said that through the acquisition, they will build an online financial services platform to become the leading digital securities company in Vietnam.
“Hanwha Investment & Securities will find new growth engines by expanding its scope of activities into Vietnam’s high-growth market,” said Kwon Hee-baek, CEO of Hanwha Investment & Securities.
Hanwha is a multidisciplinary corporation, operating in many industries such as solar power, aerospace, machinery and finance, and they have seen potential investment opportunities in Vietnam. Hanwha Life Insurance has been in Vietnam for 10 years and is now the 8th largest life insurance company in Vietnam.
In August 2018, Hanwha Investment & Securities invested US $ 400 million in VinGroup and they opened an office in Ho Chi Minh City this month.
Hanwha’s subsidiaries such as Hanwha Techwin, Hanwha Aerospace, Hanwha Energy, Hanwha Corporation / Trade and Hanwha Precision Machinery are also operating in Vietnam.
In December 2018, Hanwha said: “Hanwha’s journey in Vietnam has just begun.”