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VinaSecurities, Macquarie sign deal
VinaSecurities and Macquarie Capital Securities Limited, an affiliate of global financial institution Macquarie Group (Macquarie; ASX:MQG), have signed a wide-ranging agreement that will benefit customers of both companies.
The agreement will give Macquarie clients access to Viet Nam, one of Asia's fastest-growing markets, and allow VinaSecurities clients access to Macquarie's leading presence in global financial markets.
The initial scope of the agreement enables Macquarie clients to receive co-branded equity research focused on Viet Nam and to trade Vietnamese equities, according to Hunt Macnguyen, CEO of VinaSecurities.
The agreement also includes exclusive partnering arrangements between VinaSecurities and Macquarie in relation to in-bound and out-bound equity capital-market transactions, mergers and acquisitions, and other corporate finance advisory work.
The agreement covers both the HCM City and Ha Noi stock exchanges.
Viet Nam's GDP growth in the third quarter of 2010 was 7.2 per cent year-on-year, bringing the year-to-date growth figure to 6.5 per cent year-on-year.
Mark Duncan, head of Macquarie Securities Group, Asia, said: "Viet Nam is an important market to us and the world's institutional investors as they look to expand their investment horizon."
VinaSecurities, established in 2007, is part of the asset management group VinaCapital.
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