DBS Securities gets green light to operate in China
DBS Securities, a DBS majority-owned joint venture, is the first Sino-Singapore securities joint venture.
DBS Securities (China) Limited (DBS Securities), a majority-owned joint venture of the DBS Group, has started business operations on June 7.
This is after it had received its securities business license from the China Securities Regulatory Commission.
“DBS Securities is honored to become the first Sino-Singapore securities joint venture. With the establishment of DBS Securities, we will leverage Singapore’s experience as an international financial center while making available the best of DBS’ capabilities and offerings to support our customers in both onshore and offshore capital markets. We hope to continue to facilitate China’s economic growth and look forward to contributing to its ‘Dual Circulation’ strategy,” said DBS Group CEO Piyush Gupta in a statement.
DBS Securities will operate brokerage, securities investment consulting, securities underwriting and sponsorships, as well as proprietary trading.
It has a registered capital of RMB 1.4b, with DBS Bank Ltd. Holding 51% of its shares. Other shareholders include the following China-based companies: Donghao Lansheng Investment Management Co., Ltd. (24.67%), Shanghai Huangpu Investment Holding (Group) Co., Ltd (13.33%), Shanghai Huiyang Asset Management Co., Ltd. (6.5%) and Shanghai Huangpu Guidance Fund Equity Investment Co., Ltd. (4.5%)