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Photo = KB Securities |
[Alpha Biz= Paul Lee] KB Securities has sold its entire stake in Next Securities, which it had held since the days of Hyundai Securities, according to industry sources.
According to the securities industry on March 12, KB Securities sold 396,000 shares of Next Securities, representing a 6.58% stake, during the third quarter of last year. The exact sale price and conditions were not disclosed.
The sale reportedly came as Next Securities sought new investment last year and asked KB Securities to consider selling its stake.
The shares were acquired by BKS No.1, the largest shareholder of Next Securities.
Hyundai Securities—now part of KB Securities—and Hyundai Futures, the predecessor of Next Securities, were both financial affiliates of Hyundai Group in the 1990s.
Hyundai Futures later underwent several name changes, becoming Hi Investment Futures, VI Financial Investment, and SI Securities, before finally rebranding as Next Securities in December 2024.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
