South Korea’s Daol Investment & Securities is reportedly seeking to sell its Thai securities unit, citing a gloomy long-term outlook for the market, according to local media outlet Yonhap on Friday.
Daol Investment & Securities announced on Friday that it will sell a 69.9% ownership in Daol Securities (Thailand), its Thai subsidiary, and is in talks with domestic financial institutions.
According to the report, the South Korean investment firm hopes to raise approximately 100 billion won from the sale.
The firm said, “Currently there is no problem with liquidity, but the market situation is not positive in the long term, therefore we decided to proceed with the sale in order to preemptively secure more liquidity.”
