At the granting ceremony (Photo: tinnhanhchungkhoan.vn)Hanoi (VNA) - The State Securities Commission (SSC) of Vietnam on January 20 granted a certificate of operation to Phu Hung Securities Corporation (PHS) after the company merged with Hanoi-based An Thanh Securities Company (ATSC).
According to PHS General Director Chia Ken Chen, the merged enterprise has chartered capital of 202.5 billion VND (9.03 million USD). He said that the share swap ratio for PHS shareholders is 0.482, and for ATSC shareholders it is 0.857.
The shake-up process has been made to ensure investors’ rights and interests, Chia Ken Chen underscored.
At the granting ceremony, SSC Vice Chairman Pham Hong Son stated that the merger of the two securities companies is part of the nation’s process to restructure the stock market.
During 2011-2015, the SSC reduced the number of securities brokerage companies by 25, accounting for 25 percent of the licensed firms, Son underscored, adding that improvements can been seen in the financial situation of the remaining securities companies as a result.-VNA
