KB Securities sold all of its equity in Next Securities.
According to the financial investment industry on the 12th, KB Securities sold all 396,000 shares of Next Securities (equity stake 6.58%) in the third quarter of last year.
The equity was acquired by BKS No. 1, the largest shareholder of Next Securities. According to the industry, BKS No. 1's equity in Next Securities is said to have increased to 70.08%.
The sale price was not disclosed in detail. However, KB Securities is said to have realized a considerable capital gain from the sale.
With this, KB Securities has disposed of the equity it invested in during its predecessor Hyundai Securities era. KB Securities' predecessor was Hyundai Securities, and Next Securities' predecessor was Hyundai Futures, which in the 1990s were financial affiliates of Hyundai Group. Afterward, Hyundai Futures changed its name multiple times to Hi Investment & Futures, VI Investment & Securities, and SI Securities, before changing its name to Next Securities in Dec. 2024.