Mirae Asset Daewoo merger with Mirae Asset Securities to be pushed back to Dec.
By 김지현Published : Sept. 13, 2016 - 11:03
[THE INVESTOR] The planned merger between Mirae Asset Daewoo -- formerly Daewoo Securities -- and Mirae Asset Securities is expected to be postponed from Nov. 1 to December this year.
The two sides are expected to issue a disclosure on the postponement following a board meeting on Sept. 19.
Some say the merger may have been delayed due to a decline in Mirae Asset Daewoo’s stock price that recently fell below 8,000 won (US$7.22). On Sept.12, it closed at 7,860 won.
The National Pension Service, which owns a 5.93 percent stake in Mirae Asset Daewoo, had said it would be exercising its rights to oppose the merger, and consequently request the company to buy back its shares.
Mirae Asset did not specify the reason behind the delay in the merger plans, but said it was not due to the lower share price of Mirae Asset Daewoo.
Meanwhile, the Financial Supervisory Commission is poised to issue a permit for the merger on Sept. 21. Earlier on Sept. 7, the Securities & Futures Commission gave its approval.
By Kim Ji-hyun (jemmie@heraldcorp.com)
The two sides are expected to issue a disclosure on the postponement following a board meeting on Sept. 19.
Some say the merger may have been delayed due to a decline in Mirae Asset Daewoo’s stock price that recently fell below 8,000 won (US$7.22). On Sept.12, it closed at 7,860 won.
The National Pension Service, which owns a 5.93 percent stake in Mirae Asset Daewoo, had said it would be exercising its rights to oppose the merger, and consequently request the company to buy back its shares.
Mirae Asset did not specify the reason behind the delay in the merger plans, but said it was not due to the lower share price of Mirae Asset Daewoo.
Meanwhile, the Financial Supervisory Commission is poised to issue a permit for the merger on Sept. 21. Earlier on Sept. 7, the Securities & Futures Commission gave its approval.
By Kim Ji-hyun (jemmie@heraldcorp.com)
