Ebest Investment Securities to Soon Change Major Shareholder to LS Networks

The Securities and Futures Commission approved the major shareholder change proposal at the regular meeting on the 20th of last month
Financial Services Commission's regular meeting this month in focus

Ebest Investment & Securities Headquarters.

The major shareholder of Ebest Investment & Securities is expected to change to LS Networks as early as this month.

According to financial authorities on the 5th, the Securities and Futures Commission under the Financial Services Commission approved the change of major shareholder for Ebest Investment & Securities at its 22nd regular meeting held on the 20th of last month.

If this agenda is also approved at the upcoming regular meeting of the Financial Services Commission this month, the major shareholder of Ebest Investment & Securities will be changed to LS Networks.

Previously, LS Networks submitted an application for approval of the change of major shareholder of Ebest Investment & Securities to the Financial Services Commission in April last year. The documents included the change of the largest shareholder of Ebest Investment & Securities from the existing G&A Private Equity Fund (G&A PEF) to LS Networks.

LS Networks is the largest investor holding 98.8% of G&A PEF, and as of June 30 last year, G&A PEF held a 61.71% stake in Ebest Investment & Securities. Once the acquisition is confirmed, the entire stake of Ebest Investment & Securities held by G&A PEF will be transferred to LS Networks.

With the change of the major shareholder, there is a high possibility that the name of Ebest Investment & Securities will also be changed.

Ebest Investment & Securities expects that being incorporated into the LS Group will have effects such as lowering the cost of capital. There is also anticipation that it will be able to secure IPO allocations from the LS Group.

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