Haitong International

Haitong International Securities Group Limited known as Haitong International is a stock brokerage firm and investment bank based in Hong Kong, it is the first market maker from China at Nasdaq.

Haitong International Securities Group Limited
FormerlyTai Fook Securities
TypePublic
SEHK: 665
IndustryFinancial services
Founded1973
HeadquartersHong Kong
Key people
LIN Yong (Deputy Chairman & CEO)
Services
ParentHaitong Securities
SubsidiariesHaitong Securities India
Chinese name
Traditional Chinese海通國際證券集團有限公司
Simplified Chinese海通国际证券集团有限公司
Literal meaning"Sea connect" international securities group limited company
short name
Traditional Chinese海通國際
Simplified Chinese海通国际
Literal meaning"Sea connect" international
Websitewww.htisec.com

It was known as Tai Fook Securities which was owned by Chow Tai Fook–New World Development group until 2009.

History

Tai Fook Securities era

When the firm was known as Tai Fook Securities, it was accused that the firm lowered its commission below Stock Exchange of Hong Kong's minimum, by gifts from sister companies Chow Tai Fook Jewellery and New World Telephone in 1999.[1]

Haitong International Securities Group era

Tai Fook Securities was then takeover by the Chinese firm Haitong Securities in 2009. Haitong Securities paid HK$1.82 billion to acquire the controlling stake of Tai Fook Securities from NWS Holdings.[2] After the takeover, Tai Fook Securities was renamed to Haitong International Securities Group.

Haitong International is the first Chinese financial institution in Hong Kong to have been assigned a “BBB” long-term credit rating by Standard and Poor's.[3] In November 2016 Haitong International Securities acquired Haitong Securities India from Haitong Bank, a sister company that formerly known as Banco Espírito Santo de Investimento.[4]

References
  1. "Tai Fook denies gift scheme breaks rule on commission rate". South China Morning Post. Hong Kong. 29 June 1999. Retrieved 8 November 2018.
  2. Written at Shanghai. "China's Haitong Securities to buy Hong Kong broker". China Daily. Beijing. Xinhua News Agency. 23 November 2009. Retrieved 14 June 2019.
  3. "Outlook On Haitong Securities And Haitong International Securities Revised To Negative; 'BBB/A-2' Ratings Affirmed". alacrastore.com. Retrieved 14 June 2019.
  4. "Haitong Boosts Apac Operations with India Acquisition". globalcapital.com. 10 November 2016. Retrieved 14 June 2019.
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