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
