Hanwha Investment & Securities Completes Acquisition Process of Indonesia's Ciptadana Asset Management

Hanwha Investment & Securities announced on December 16 that the main procedures for acquiring Ciptadana Asset Management in Indonesia are in their final stages.

Ciptadana Asset Management is a mid-sized financial company affiliated with Lippo Group, Indonesia's sixth-largest conglomerate, and has more than 30 years of experience in the industry. In 2023, Hanwha Investment & Securities signed a contract to acquire an 80% stake in both Ciptadana Securities and Ciptadana Asset Management. After completing the acquisition of Ciptadana Securities in October last year, the company received final approval from the Indonesian Financial Services Authority (OJK) this year for the acquisition of Ciptadana Asset Management. Hanwha Investment & Securities further announced through a disclosure on December 15 that it has completed the process of acquiring shares in Ciptadana Asset Management.

Through this acquisition, Hanwha Investment & Securities has established a dual-track system for securities and asset management in Indonesia, laying the groundwork to further strengthen its presence in the rapidly growing Southeast Asian capital market. The company also plans to deepen its strategic partnership with Lippo Group and provide digital asset management solutions optimized for the local market environment and customer needs.

Jang Byungho, CEO of Hanwha Investment & Securities, stated, "Ciptadana Securities and Ciptadana Asset Management will play a pivotal role in the development of Indonesia's digital financial ecosystem," adding, "We will continue to provide unwavering support so that Ciptadana Securities and Ciptadana Asset Management can lead not only the Indonesian but also the ASEAN financial markets."