Other two security companies merged

The State Security Commission of Vietnam on September 16 licensed establishment of Vietnam International Security Company, which is merged from Vietnam International Securities and Dai Tay Duong Securities Joint Stock Company.

The new company has its chartered capital of VND60 billion (US$2.83 million).

According to the commission chairman Vu Bang, the merge marks an important event in the stock market and security companies’ restructuring.

The restructuring has reduced the number of stock companies by 20 percent. A total of 105 company had been licensed, he added.

At the end of 2013, the commission approved a merger of Military Bank Securities Company (MBS) and VIT Securities Company (VITSE), creating a new company with chartered capital of over VND621 billion (US$29.32 million).

By Ngoc Quang – Translated by Hai Mien

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