Hanwha Investment & Securities completes acquisition of Indonesian securities firm, Ciptadana Securities Asia
Acquisition marks Hanwha Investment & Securities’ third entry into ASEAN market, following Vietnam and Singapore
Hanwha Investment & Securities has acquired Indonesia's Ciptadana Securities Asia
Hanwha Investment & Securities announced its acquisition of Indonesia’s Ciptadana Securities Asia on Oct. 17.
Ciptadana Securities Asia is a financial services company with over 30 years of experience and is part of the Lippo Group, one of Indonesia’s largest conglomerates. The acquisition marks Hanwha Investment & Securities’ third entry into a major Southeast Asian financial market, following expansions in Vietnam and Singapore.
“Ciptadana Securities Asia will play a significant role in the development of Indonesia's digital financial market,” said Hahn Doo Hee, CEO of Hanwha Investment & Securities. “As the largest shareholder and partner, Hanwha Investment & Securities will do its utmost to help Ciptadana Securities Asia grow into a leading global financial institution representing the ASEAN region.”
In 2023, Hanwha Investment & Securities signed an agreement to acquire an 80% stake in Ciptadana Securities Asia. The acquisition was completed after receiving final approval from the Indonesian Financial Services Authority (Otoritas Jasa Keuangan) late last month.
Hanwha Investment & Securities aims to maintain a strong partnership with Lippo and expects to collaborate on building and delivering a digital financial platform tailored to the local market. The company is also pursuing the acquisition of Ciptadana Asset Management, with plans to finalize the deal by next year.
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