Hary Tanoe's Company Confirms The Acquisition Of Securities On Wall Street: For The Sake Of Increasing Foreign Transactions At MNC Sekuritas

Hary Tanoesoedibjo. (Photo: Instagram @ hary.tanoesoedibjo)

JAKARTA - The holding of the MNC Group in the financial business sector, PT MNC Kapital Indonesia Tbk (BCAP) reportedly reached an agreement to acquire a majority stake in Auerbach Grayson & Company LLC (AGCO). Auerbach is a stock broker / securities company headquartered in New York.

Quoted from the information disclosure page of the Indonesia Stock Exchange (IDX), Monday 11 January, MNC Kapital, through a letter signed by two of its directors, Natalia Purnama and Samuel Purnomo, confirmed the acquisition.

"The news is true. The purpose of the acquisition is to strengthen the placement of the company's group shares in the US and Europe," explained MNC Kapital's management.

He added that this acquisition step is also aimed at strengthening MNC Sekuritas' distribution network, and enlarging foreign transactions through MNC Sekuritas.

The management of the company owned by the conglomerate Hary Tanoesoedibjo also projects that with this acquisition, the company will benefit from AGCO's strong international network and access to 126 local partners around the world.

"This will certainly have a positive impact on the company's future performance," said MNC Kapital's management.

AGCO is a securities company operating on the US Wall Street exchange. They focus on global trade and in-depth research exclusively for US institutional investors.

Previously, AGCO was owned by Beltone Financial Holding (BTFH), a leading investment bank based in Egypt. This acquisition will work with David Grayson, Co-Founder of AGCO. This agreement was finalized after obtaining approval from the US Financial Industry Regulatory Authority (FINRA).

MNC Kapital, through its wholly owned subsidiary, Winfly Ltd, becomes the controlling shareholder of AGCO, while AGCO's Co-Founder, David Grayson bought back the remaining shares.