Vietnamese, Australian firms expand access to domestic market
Last updated: 10/29/2010 8:25
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VinaSecurities, a Ho Chi Minh City-based securities firm, and Australia’s Macquarie Capital Securities Ltd. signed a wide-ranging cooperation agreement on Wednesday.
The agreement gives Macquarie’s clients access to Vietnam, one of Asia’s fastest growing markets. In exchange, VinaSecurities said its clients will now enjoy Macquarie’s expert advice and leading presence in numerous global financial markets.
Representatives from VinaSecurities said the initial scope of the agreement enables Macquarie’s clients to receive co-branded equity research focused on Vietnam and to trade in Vietnamese equities.
The domestic firm further claimed that the agreement includes exclusive partnering arrangements between VinaSecurities and Macquarie pertaining to inbound and outbound equity capital transactions, mergers and acquisitions, and other financial advisory work.
The deal covers both the Ho Chi Minh City and Hanoi stock exchanges. “This is a landmark agreement in one of Asia’s most exciting and untapped markets,” said Mark Duncan, head of the Australia-based Macquarie Securities Group, Asia. “Vietnam is an important market to us and the world’s institutional investors as they look to expand their investment horizons.”
VinaSecurities was established in 2007 as a subsidiary of the VinaCapital Group, the largest fund manager in Vietnam which oversees approximately US$1.8 billion in assets.
Reported by Minh Quang
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