DBS to Raise Stake in China Securities JV

Singapore’s DBS is seeking to significantly increase its stake in its onshore securities joint venture in China.

DBS will look to increase its stake in its China joint venture – DBS Securities China – from 51 percent to 91 percent, pending regulatory approval, according to a «Reuters» report citing CEO Piyush Gupta in a briefing.

According to the Shanghai United Assets and Equity Exchange, four Chinese shareholders of DBS Securities China auctioned off a 40 percent stake in July with an asking price of $58.2 million