Mr. Seichiro Akita, President and Chief Executive Officer Bank of Ayudhya (BAY) said the bank is pleased to announce that Krungsri has reached an acquisition agreement by acquiring 99.1% of Nomura Securities (CNS) shares. Thailand’s leading securities firm from Nomura Asia Investment (Singapore) Pte. Ltd. (NAIS) and Bank of Ayudhya It intends to acquire CNS shares at a rate of 0.9% remaining from CNS minority shareholders.
The total investment value of the transaction was approximately USD 155.3 million. or equivalent to approximately 5.5 billion baht (the exchange rate of 1 USD equals 35.416 baht as of 27 Jun 65)
However, such transactions must be approved by the Bank of Ayudhya shareholders’ meeting. Bank of Thailand (BOT) and/or related regulators which is expected to be completed in the fourth quarter of this year.
This acquisition of CNS marks another important step for Krungsri in building Krungsri’s securities business growth and strengthening Krungsri as a Trusted Partner.
With the potential of Nomura Securities Pattanasin Securities and a long-standing reputation in terms of products and services that are diverse and comprehensive as well as known research expertise This transaction is therefore a strategic driving force for Krungsri in building and expanding Krungsri’s securities business. along with strengthening Krungsri as a trusted partner for customers
“We look forward to welcoming and working with the management and staff of CNS to create sustainable growth together. and to drive this transition smoothly. At the same time, CNS customers are assured that the services will continue as usual.”
Mr Akita said
CNS operates securities business in Thailand. It has a long-standing reputation for providing securities services to both retail and institutional investors. especially in the brokerage business. Derivatives brokerage business Financial advisory business underwriting business bond trading business Securities borrowing and lending business and the business of being an agent supporting the sale and redemption of investment units
By InfoQuest News Agency (30 Jun 65)
Tags: BAY, CNS, Bank of Ayudhya, Nomura Securities Pattanasin, Thai stocks