TOKYO, Nov 25, 2010 - (ACN Newswire) - SBI Holdings, Inc. ("SBIH") announced today that SBI SECURITIES Co., Ltd. ("SBIS"), a subsidiary of SBIH, has reached a basic agreement to acquire a 20% stake of FPT Securities Joint Stock Company ("FPT Securities" or "the Company"), one of the major securities companies in Vietnam, who is issuing its new shares to external investor.
FPT Securities is an affiliate securities company of FPT Corporation, Vietnam's largest IT company, and SBIH's investment partner in a jointly established and operated private equity fund in Vietnam. The Company is ranked fifth on the Ho Chi Minh Securities Exchange, amongst over a hundred securities companies, and is ranked second at the Hanoi Securities Exchange in terms of trading value(1). Also, FPT Securities is aggressively developing online trading systems utilizing FPT Group's technology, and over 90% of its customers utilize its online trading.
We anticipate a substantial growth opportunity of the Vietnamese securities industry, owing to its increased financing activity through the capital markets, and the expansion of the lower end of the individual investors with future economic development. Further, it is said that the number of individual securities account openings remains at only 1% of the nation. In addition, SBIS is under discussions to trade Vietnamese stocks in Japan in tandem with FPT Securities.
The SBI Group has accelerated its overseas development primarily in emerging Asian countries, through partnerships with prominent local partners in each country. In Vietnam, SBIH has already invested in Tien Phong Bank, in which the FPT Group also invested as a principal shareholder, and will endeavor to establish other partnerships with the FPT Group. Furthermore, SBIH will continue its overseas development of financial services business, such as banking, securities businesses, and the investment business.
Overview of FPT Securities Joint Stock Company
Corporate Name: FPT Securities Joint Stock Company
Address: 71 Nguyen Chi Thanh Street, Dong Da District,
Hanoi, Vietnam
Establishment: July 2007
Main Business: Securities related business such as Securities
Brokerage Business and Investment Advisory Business
Operating Revenues: 215.9 billion VND (Approx. 930 million JPY)(2)
Net Profit: 120.5 billion VND (Approx. 520 million JPY)(3)
Capital: 440.0 billion VND (Approx. 1,890 million JPY)(4)
(1) Actual performance from July to September 2010.
(2) Fiscal year ending December 2009
(3) As of the end of December 2009
(4) 1 VND = 0.004288 JPY
About SBI Holdings
With a thorough commitment to the customer-centric principle since its establishment in 1999, the SBI Group has provided innovative, low-cost and user- friendly financial services by fully leveraging the price-cutting power of the Internet. In the past decade, the SBI Group has grown into a globally unique "comprehensive Internet financial group" that provides Internet-based securities, banking and insurance and other financial services. For more information, please visit www.sbigroup.co.jp.
Contact:
SBI Holdings, Inc.
Corporate Communications Dept
Tel: +813 6229 0126
Contact:
SBI Holdings, Inc.
Corporate Communications Dept
Tel: +813 6229 0126
Topic: Investment
Source: SBI Holdings
Sectors: Daily Finance, Daily News
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