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NH Investment & Securities to Invest 30.4 Bil. Won in NH Korindo Securities in Indonesia
Increasing Capital of Indonesian Subsidiary
NH Investment & Securities to Invest 30.4 Bil. Won in NH Korindo Securities in Indonesia
  • By Yoon Young-sil
  • December 28, 2018, 15:09
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NH Investment & Securities Co. will increase the equity of NH Korindo Securities in Indonesia from 22 billion won to 52.5 billion won.

NH Investment & Securities Co. said on Dec. 28 that it will invest 390 billion rupia (about US$27.2 million) in NH Korindo Securities, its subsidiary in Indonesia, in order to expand its business in the Southeast Asian country.

The additional investment by NH Investment & Securities Co. will increase NH Korindo Securities’ equity from about 22 billion won to 52.5 billion won (US$47 million).

"NH Korindo is strengthening its position as a local brokerage company. It ranks 10th among securities companies operating in Indonesia, according to Indonesia's economic magazine ‘Investor,’” NH Investment & Securities said. "The funds raised through this round of capital increase will be used to strengthen the affiliate’s investment bank (IB) business and expand its business areas to become a general investment company in Indonesia."