Translation: FPT ventures into financial market
The State Securities Commission (SSC) has granted FPT Corp. approval to establish a securities firm, paving the way for Vietnam’s leading information technology company to expand operation to the financial market.
The FPT Securities Joint Stock Company, with initial registered capital of VND200 billion, is expected to start operation in mid-August in the fields of brokerage, securities trading, consulting and custody. FPT holds a 25% stake in the company and shareholders the balance.
To further deepen its presence in the financial market, bourse-listed FPT is seeking approval to set up a fund manager and a commercial bank. The company will team up with institutions and shareholders as well as contribute VND150 billion to the commercial joint-stock bank, and VND36.3 billion to the fund management company.
FPT Securities Co. is the fourth securities firm licensed so far this year. At present, there are about 60 securities firms in Vietnam.