Hong Kong gives KEB license for securities underwriting
Hong Kong, Jan 1 (AsiaNet/UNB) - A Hong Kong unit of the Korea Exchange Bank (KEB, South Korea's fifth-largest lender, has been issued a license by the Hong Kong authorities to act as an underwriter for securities, becoming the first South Korean bank permitted to do so here, the bank said.
An underwriter administers the public issuance and distribution of securities from a corporation or other issuing body.
Under the license issued by Hong Kong's Securities and Futures Commission, KEB Asia Finance Ltd. can assume the responsibility of distributing securities issues to the public.
Keb Asia Finance will be able to receive underwriting fees from their issuing clients and earn profit when selling the underwritten shares to investors.
An underwriter administers the public issuance and distribution of securities from a corporation or other issuing body.
Under the license issued by Hong Kong's Securities and Futures Commission, KEB Asia Finance Ltd. can assume the responsibility of distributing securities issues to the public.
Keb Asia Finance will be able to receive underwriting fees from their issuing clients and earn profit when selling the underwritten shares to investors.
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