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Finance

Woori Investment Securities arranges 600 billion won acquisition financing, largest since launch

Woori Investment Securities has completed its largest acquisition financing arrangement since its launch, as it expands participation in big-ticket investment banking deals after a 1 trillion won rights issue. The firm said it completed on June 30 the acquisition financing arrangement for a deal in which a consortium led by STIC Alternative Asset Management and Korea Investment Private Equity is buying stakes in Ulsan GPS and SK Multi Utility. The overall transaction is worth 1.6 trillion won.

Finance

Capital markets also show economies of scale as big brokerages rush to boost capital

Competition among securities firms to bolster capital is spreading quickly, led by large brokerages, as more businesses link bigger capital bases to revenue growth. KB Securities decided on a 1 trillion won rights offering after earlier support from KB Financial Group. Similar moves include Korea Investment & Securities, Woori Investment & Securities and NH Investment & Securities, while Hanyang Securities also joined. The combined amount totals about 4.65 trillion won this year.

Finance

Shinhan Bank steps up comprehensive advisory for succession market, from corporate sales to asset management

Shinhan Bank is strengthening M&A and business succession advisory services for small and mid-sized companies, aiming to meet rising succession demand driven by ageing and lack of successors. The bank said it signed a memorandum of understanding with Samjong KPMG at its Shinhan PWM Yeouido Center in Seoul. Shinhan Bank plans to identify clients with succession and M&A needs and link acquisition finance with asset management, while Samjong KPMG will provide valuation and accounting and tax advice.