Daiwa ( (JP:8601) ) has shared an update.
Daiwa Securities Group Inc. has converted its convertible bonds in Global X Management Company, Inc. into units of Global X Management Company LLC, acquiring a 20% stake. This move aligns with Daiwa’s strategic goal to enhance its asset management business and strengthen its position in the ETF market, particularly in the United States, which is the largest ETF market globally. The acquisition is part of Daiwa’s broader strategy to maximize customer asset value and transform its business model, aiming for further expansion in asset management.
More about Daiwa
Daiwa Securities Group Inc. operates in the financial services industry, focusing on asset management and securities. They have a strategic interest in enhancing their asset management business, as evidenced by their involvement in the ETF market through partnerships and acquisitions. Global X LLC, based in the United States, specializes in ETF asset management, offering a diverse range of ETFs that cater to various investment objectives, managing over $53 billion in assets.
YTD Price Performance: 5.56%
Average Trading Volume: 6,216
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: $9.5B
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