[THE INVESTOR] Mirae Asset Daewoo Securities, formerly Daewoo Securities, is set to finalize its merger with Mirae Asset Securities in end-December, industry sources said on Sept. 19.

The two sides are scheduled to hold respective board meetings on this day to change the merger date to Dec. 29 from the initially set Nov. 1.

This follows reports last week that the merger deadline would be pushed back.




The merged entity will be called Mirae Asset Daewoo, with its shares will be newly listed on the local stock exchange on Jan. 20.

The merged brokerage would be the largest in Korea, with capital of up to 6.7 trillion won (US$ 5.98 billion).

Meanwhile, shareholders opposing the merger are entitled to exercise their rights demanding the two companies to buy back their shares.

The Financial Supervisory Commission will deliberate on the merger plans on Sept. 21.

By Kim Ji-hyun (jemmie@heraldcorp.com)