Providential Restructures Operations

Providential Securities Inc., a Fountain Valley brokerage, said Thursday that it has restructured its operations, creating a holding company and a technology subsidiary.

The company said the new structure, with parent company Providential Holdings Inc. and subsidiary Providential Technology Inc., is designed to support its strategic growth.

The subsidiary, headed by Charles Chang, a former Web site developer at Procom Technology Inc. in Santa Ana, will pursue more extensive development of the company’s e-commerce activities.

Providential Holdings takes over as the publicly held company, whose shares are traded over the counter under the ticker symbol PRVH. The stock gained 75 cents Thursday to close at $3.56 a share.