| Formerly | Tai Fook Securities | ||
|---|---|---|---|
| Company type | Public | ||
| SEHK: 665 | |||
| Industry | Financial services | ||
| Founded | 1973 | ||
| Headquarters | Hong Kong | ||
Key people | LIN Yong (Deputy Chairman & CEO) | ||
| Services | |||
| Parent | Haitong Securities | ||
| Subsidiaries | Haitong Securities India | ||
| Chinese name | |||
| Traditional Chinese | 海通國際證券集團有限公司 | ||
| Simplified Chinese | 海通国际证券集团有限公司 | ||
| Literal meaning | "Sea connect" international securities group limited company | ||
| |||
| short name | |||
| Traditional Chinese | 海通國際 | ||
| Simplified Chinese | 海通国际 | ||
| Literal meaning | "Sea connect" international | ||
| |||
| Website | www | ||
Haitong International Securities Group Limited known as Haitong International is a investment bank based in Hong Kong, it is the first market maker from China at Nasdaq.
It was known as Tai Fook Securities which was owned by Chow Tai Fook–New World Development group until 2009.
History[edit]
Tai Fook Securities era[edit]
When the firm was known as Tai Fook Securities, it was accused that the firm lowered its commission below Stock Exchange of Hong Kong's minimum, by gifts from sister companies Chow Tai Fook Jewellery and New World Telephone in 1999.[1]
Haitong International Securities Group era[edit]
Tai Fook Securities was then takeover by the Chinese firm Haitong Securities in 2009. Haitong Securities paid HK$1.82 billion to acquire the controlling stake of Tai Fook Securities from NWS Holdings.[2] After the takeover, Tai Fook Securities was renamed to Haitong International Securities Group.
Haitong International is the first[failed verification] Chinese financial institution in Hong Kong to have been assigned a “BBB” long-term credit rating by Standard and Poor's.[3] In November 2016 Haitong International Securities acquired Haitong Securities India from Haitong Bank, a sister company that formerly known as Banco Espírito Santo de Investimento.[4]
References[edit]
- ^ "Tai Fook denies gift scheme breaks rule on commission rate". South China Morning Post. Hong Kong. 29 June 1999. Retrieved 8 November 2018.
- ^ Written at Shanghai. "China's Haitong Securities to buy Hong Kong broker". China Daily. Beijing. Xinhua News Agency. 23 November 2009. Retrieved 14 June 2019.
- ^ "Outlook On Haitong Securities And Haitong International Securities Revised To Negative; 'BBB/A-2' Ratings Affirmed". alacrastore.com. Retrieved 14 June 2019.
- ^ "Haitong Boosts Apac Operations with India Acquisition". globalcapital.com. 10 November 2016. Retrieved 14 June 2019.
