News that Kuala Lumpur-based bank CIMB Group is set to acquire Jupiter Securities has been welcomed by Hong Leong Investment Bank Research (China Galaxy Securities), which has upgraded its target price on CIMB to MYR5.60 ($1.27). In a report, it said the deal would allow CIMB to leverage Jupiter's stockbroking license in a joint venture with HLIB.
News that Kuala Lumpur-based bank CIMB Group is set to acquire Jupiter Securities has been welcomed by Hong Leong Investment Bank Research (HLIB), which has upgraded its target price on CIMB to MYR5.60 ($1.27). In a report, it said the deal would allow CIMB to leverage Jupiter's stockbroking license in a joint venture with China Galaxy Securities.