Japanese Firm to Invest US$200 Mln in Vietnam's Stock Market
Japan Investment Consultancy Service Company (JICS) inked a strategic cooperation deal with Asia-Pacific Securities Company (APEC) to boost its investment of US$200 million in Vietnam's stock market in the coming time.
The deal was signed in Tokyo November 27 on the official visit of Vietnam's President Nguyen Minh Triet to Japan, said APEC chairman Nguyen Do Lang.
JICS will become APEC's strategic shareholder when the Vietnamese firm sells stake to boost its capital to VND350 billion (US$21.87 million) from current VND80 billion, in which 25 per cent of the total will be offered to domestic and foreign strategic partners.
The Japanese firm, however, has not decided the stake proportion it plans to buy in APEC.
“JICS can not ignore the potential equity market of Vietnam and APEC is our best choice because it shows the development potential of a securities company on the market,” said JICS director Makoto Kariya.
The Hanoi-based securities firm expects to net profit of VND55 billion (US$3.4 million) this year, and plans to list shares on the Hanoi bourse in early 2008, Lang added.
APEC, which has total 10,000 accounts, is now among top ten stock brokers with the highest trading revenue of VND100 billion a day. (apec.com.vn, Securities Investment, People's Intelligence)
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