Morgan Stanley builds Vietnam business

The firm pairs up with Gateway Securities to offer a range of services in Vietnam.
Morgan Stanley announced on Wednesday that it has received regulatory approval from VietnamÆs State Securities Commission SSC to set up a domestic presence in Vietnam with local partner, Gateway Securities.

The venture, in which Morgan Stanley will own a 49% stake, will be based in Hanoi and operate as Morgan Stanley Gateway Securities Joint Stock Company Morgan Stanley Gateway Securities. Detailed terms of the transaction were not disclosed.

But the firm did announce that the new venture has received an underwriting license from the SSC. Following the financial closing of the transaction Morgan Stanley Gateway Securities will be able to conduct a range of services in Vietnam including investment banking advisory and underwriting,...
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