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

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

Ciptadana Asset Management is a mid-sized financial company and an affiliate of Lippo Group, Indonesia's sixth-largest conglomerate, with over 30 years of experience. Hanwha Investment & Securities signed a contract in 2023 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 Indonesia’s Financial Services Authority (OJK) for the acquisition of Ciptadana Asset Management earlier this year. On December 15, Hanwha Investment & Securities announced through a public disclosure that it had completed the process of acquiring the stake 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. In addition, Hanwha Investment & Securities 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. Going forward, we will continue to provide unwavering support so that Ciptadana Securities and Ciptadana Asset Management can lead not only the Indonesian market but also the financial markets of ASEAN."