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June 18 (NBD) -- Founder Securities Co., Ltd. (601901.SH) announced last Friday that Credit Suisse is to increase stakes in Credit Suisse Founder Securities Limited and will become the controlling shareholder of the joint venture.

It is noted that Credit Suisse is the fourth foreign securities company that seeks a controlling stake in Chinese securities companies, following UBS securities, Nomura Securities and JPMorgan.

In another announcement, Founder Securities disclosed the plan to inject 600 million HK dollars (76.5 million U.S. dollars) into its fully-owned subsidiary Founder Hong Kong Financial Holdings.

After the deal, the registered capital of Founder Hong Kong Financial Holdings will surge to 1.1 billion HK dollars (140.2 million U.S. dollars). The capital injection will be used to expand businesses for the subsidiary through consolidating brokerage and asset management businesses, setting up new companies to enhance the core businesses such as investment banking and fixed-income businesses, building fin-tech platforms as well as initiating short-term financing businesses, according to the announcement.

Email: tanyuhan@nbd.com.cn