Philippines: Daiwa acquires 14.9% stake in stock broker COL Financial

Japan-based Daiwa Securities Group has acquired a 14.9 per cent stake in COL Financial Group Inc, a top stockbroker in the Philippines.

COL Financial disclosed that Daiwa made the investment to capitalise on the Philippines’ fast-growing retail segment and young wealth builders, which are among the major beneficiaries of the country’s strong economic prospects.

The size of the deal was not disclosed.

Considered as one of the leading and comprehensive financial service firms in Asia, Daiwa’s spectrum of financial products include core business segments in retail, wholesale and asset management.

COL Financial is the largest online stockbroker in the Philippines that provides access to stock and mutual fund investments, expert guidance, and advisory services to over 200,000 clients.

“COL is the (number one) stockbroker in the Philippines in terms of trades executed, and ranks 6th out of 132 trading participants in terms of value turnoveras of end-2016,” COL Financial said in a statement.

COL Financial’s scrip on the Philippine Stock Exchange moved up 0.62 per cent or P0.100 to close at P16.30 per share on Friday (April 21).

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