BSC to issue shares to foreign strategic investor

Phuong huyen

On 10 March 2022, the Board of Directors of BIDV Securities Company (BSC) issued Resolution No. 223/NQ-BSC approving share transaction with a foreign strategic investor.

Accordingly, BSC will issue 65,730,042 shares as private placement to Hana Financial Investment Co., Ltd (HFI). With the share purchase, HFI will hold a 35 percent stake in BSC. Total value of the transaction is approximately VND2.700 billion (equivalent to USD119 million). This provides an important financial resource for BSC to boost its business activities, invest in information technology, digital transformation, and develop financial service and investment banking ecosystem.

HFI invests in BSC as a strategic investor, committing for long-term support and cooperation in BSC’s business development and corporate governance.

BIDV Securities Company (HoSe: BSC) was established in 1999. BSC has maintained its pioneering position in providing innovative financial products and services. In 2021, BSC was honoured by domestic and international organizations with awards such as “Best Investment Management Company in Vietnam" by Global Banking and Finance Review; Top two securities companies with best brokerage service for research by AsiaMoney.

Hana Financial Investment Co., Ltd (HFI) is a member of Hana Financial Group - one of three largest financial groups in South Korea, ranking 71st in the list of Top 1000 largest banks and financial groups in the world by The Banker in 2021.

HFI was established in 1968 and is an unsurpassed leader in asset management with many industry firsts, including Korea’s first investment trust service and investment fund. It became a mega-size investment bank (IB) after two paid-in capital increases in 2018 and 2020, bringing capital up to KRW4 trillion (equivalent to USD3,200 million). HFI is growing into Asia’s top IB gaining the attention of global investment circles through leveraging the Group’s network. As of 31 December 2020, HFI had total assets of USD28.5 billion and equity of nearly USD3.61 million.

The alliance between BSC - a securities company with more than two decades of operation, and HFI - a member of a leading financial group in Korea, will open up new development opportunities for BSC. BSC and HFI will carry out necessary procedures in accordance with the laws of the two countries to complete the above deal.