Seoul - Arab Today
Tongyang Securities Inc., a brokerage unit of troubled Tong Yang Group, said Friday that its shareholders approved a proposal to issue new shares worth 150 billion won (US$139 million) to a Taiwanese brokerage house. Earlier this week, the parent group had signed a deal to sell a 27.06 percent share in the brokerage unit for some 120 billion won to Yuanta Securities, a unit of Yuanta Financial Holdings Co