Hanwha Investment & Securities penetrates in to Vietnam's stock market

Hanwha Investment & Securities penetrates in to Vietnam's stock market

Pinetree Securities Corporation, based in Vietnam, has issued a notification that its parent company Hanwha Investment & Securities has increased its total capital to VND1 trillion ($43.5 million). This move will provide Pinetree Securities with gunpowder to expand its margin lending portfolio and other investment activities.

In addition, the move will help Hanwha Group – the seventh largest group in Korea – to set a solid foothold in Vietnam, especially in the stock market.

In May 2019, Hanwha Investment & Securities acquired a 90 per cent stake in HFT Securities to enhance its investment in digital financial services in Vietnam and then renamed it to Pinetree Securities. Along with the change, it set the target of becoming the leading digital securities company in Vietnam by 2025.

Before Hanwha, numerous other Korean groups jumped into the Vietnamese stock market.

In late September 2019, Korean securities firm Mirae Asset (Vietnam) Securities Co., Ltd. was in the process of raising charter capital from VND4.3 trillion ($186.9 million) to over VND5.45 trillion ($236.95 million), thereby becoming the securities company with largest charter capital in the market.

In November 2019, KEB Hana Bank officially become a foreign strategic shareholder of BIDV. KEB Hana Bank owns 15 per cent of BIDV’s charter capital after acquiring 603.3 million shares for VND20.3 trillion ($872 million). At the time, this was the biggest mergers and acquisitions deal in Vietnam's banking industry.

Besides, Vingroup and South Korean corporation SK Group officially signed a strategic partnership agreement in May 2019. Accordingly, SK Group spent about VND23.3 trillion ($1 billion) to acquire 154.3 million shares of Vingroup as well as 51.4 million shares of VinCommerce.