News that FY15-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.
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.