Daol Investment & Securities to Sell Thai Subsidiary... "Proactive Liquidity Securing Measure"
[Asia Economy Reporter Myunghwan Lee] Daol Investment & Securities is pushing for the sale of its Thailand subsidiary, the only one operated by a domestic securities firm.
According to the securities industry on the 18th, Daol Investment & Securities is currently pursuing the sale of its 69.9% stake in 'Daol Thailand.' The company is reportedly in contact with financial holding companies and securities firms for the sale.
Daol Thailand is the only local subsidiary operated by a domestic securities firm in Thailand. Daol Investment & Securities is said to be hoping for a purchase price in the range of 100 billion KRW.
A Daol Investment & Securities official explained, "Although there is currently no liquidity problem, the sale is being pursued as a preemptive measure from a long-term perspective," adding, "It is to secure liquidity with ample margin."
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However, the company stated that there is no possibility of selling another overseas subsidiary, 'Daol New York,' located in the United States. The official drew a clear line, saying, "The U.S. local subsidiary has a clear purpose as a global alternative investment hub," and "there is no need for its sale."
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