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The Korea Herald
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THE INVESTOR
March 29, 2024

Deals

KTB Investment & Securities denies brokerage takeover rumors

  • PUBLISHED :January 15, 2019 - 18:00
  • UPDATED :January 15, 2019 - 18:00
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[THE INVESTOR] KTB Investment & Securities on Jan. 15 denied rumors that it is mulling acquiring another brokerage Golden Bridge Investment & Securities.

“(KTB) has not considered acquiring Golden Bridge Investment & Securities” the company said in a disclosure, in response to a clarification sought by the stock market operator Korea Exchange.

There were news reports that KTB is likely to take over Golden Bridge, with equity capital of 52 billion won (US$46.4 million), potentially by teaming up with other financial investors.

Prior to the news, Golden Bridge had been in talks with information technology service provider Sangsangin for a stock takeover deal worth 42 billion won. However, Sangsangin -- with two savings banks affiliates -- stopped short of gaining the regulatory nod for owning Golden Bridge’s 41.84 percent shares. It withdrew its bid earlier this month.

By Son Ji-hyoung (consnow@heraldcorp.com)

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