Kleinwort's Korean rag-bag

DBS Securities Holdings of Singapore, Daily Growth Investment, and Kleinwort Benson (KB) are some of the partners in a proposed joint venture securities house. So far, only one joint venture brokerage, Dongbang Peregine, has been established in South Korea. Others have been deterred by the steep pri...

Full description

Saved in:
Bibliographic Details
Published in:Euromoney 1993-09 (293), p.28
Main Author: McGill, Peter
Format: Magazinearticle
Language:English
Subjects:
Flour milling industry
Investments
Investors
Joint ventures
Securities industry
Securities trading
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:DBS Securities Holdings of Singapore, Daily Growth Investment, and Kleinwort Benson (KB) are some of the partners in a proposed joint venture securities house. So far, only one joint venture brokerage, Dongbang Peregine, has been established in South Korea. Others have been deterred by the steep price: in 1993, Dongbang Peregine paid 10.949 billion Won (413.5 million) for its Korean Stock Exchange (KSE) seat. Andrew Korner of Asian Capital Partners expects the joint venture to be in business by January or February 1994 and for it to acquire a KSE seat soon after. The brokerage is to be capitalized at around 50 billion Won ($61.8 million), with KB holding 20%, its 2 other foreign partners 12% each, and the rest divided among 9 South Korea investors.
ISSN:0014-2433