• Most Popular
  • Most Shared

S.Korea Kybo Sec eyes rights offer or JV partner

Wed Mar 5, 2008 10:17pm EST

Stocks

   

SEOUL, March 6 (Reuters) - South Korea's Kyobo Securities Co Ltd (030610.KS) is a mulling rights offering, or combining with an outside partner to turn the brokerage house into a joint venture, its top shareholder said on Thursday.

"Under the (upcoming) Capital Markets Integration Act, Kyobo Securities has a task to build up its competitiveness," Chang Jae Shin, chief executive of Kyobo Life Insurance told reporters.

Kyobo Life owned 51.63 percent in Kyobo Securities as of end-2007.

"We are considering a variety of options, including a rights offering, having an outside partner to make it a joint venture, or bolstering management staff," he said.

(Reporting by Kim Yeon-hee; Editing by Keiron Henderson)



More from Reuters

Photo

Senate panel approves Bernanke nomination

WASHINGTON (Reuters) - The U.S. Senate Banking Committee on Thursday approved the nomination of Federal Reserve Chairman Ben Bernanke for a second term, sending it to the full Senate for a final confirming vote. | Video

» More Top News
A girl sits on her father's shoulders in front of a globe with an interactive display during an Earth Hour ceremony at the townhall square in central Copenhagen December 16, 2009. Credit: REUTERS/Christian Charisius

U.N. talks at "critical juncture"

Climate talks were given a second chance after the U.S. backed a $100 billion global fund to support poor countries. What else will it take to hammer out a deal?  Full Article 

Climate Conference
Bernd Debusmann
Bernd Debusmann:

Burning borrowed money

The Pentagon burns through $5 million in borrowed money every hour in Afghanistan and the amount is expected to more than double once additional troops are deployed.   Commentary 

Afghanistan