Krungsri (Bank of Ayudhya PCL) announced today that it has reached an agreement to acquire 99.1% of the shares of Capital Nomura Securities Public Company Limited ("CNS") from Nomura Asia Investment (Singapore) Pte. Ltd. ("NAIS") with intention to offer to purchase the remaining 0.9% of the shares of CNS from minority shareholders with total consideration of up to approximately USD 155.3 million or approximately THB 5,501 million (an exchange rate of USD 1 to THB 35.416 as of June 27, 2022). The transaction is subject to an approval from the shareholders of Krungsri, the Bank of Thailand, and/or other related regulatory agencies. It is expected to be completed by the fourth quarter of this year. The acquisition of CNS marks another milestone for Krungsri in accelerating the growth of Krungsri's securities business and strengthening Krungsri's position as a trusted partner for customers.
Krungsri President and Chief Executive Officer Mr. Seiichiro Akita said, "We are pleased to announce that we have reached an agreement to acquire 99.1% of the shares of CNS, one of the leading securities businesses in Thailand, from NAIS. Krungsri will also offer to purchase the remaining shares of CNS from minority shareholders of CNS at the same price. With CNS's capabilities, long-standing reputation for its comprehensive and diverse suite of products and services offerings, and well-known research expertise, this transaction forms part of our strategic moves to accelerate the growth and the scale of Krungsri's securities business as well as strengthen our position as a trusted partner for customers."
"We look forward to welcoming and working with CNS' management team and employees for mutual and sustainable growth as well as a smooth transition. Meanwhile, customers of CNS can rest assured that the existing services will remain as usual," said Mr. Akita.
CNS engages in the securities business in Thailand with a long-standing reputation for its services for both retail and institutional investors, mainly in the securities brokerage business, derivatives brokerage business, financial advisory business, underwriting business, fixed income trading business, securities borrowing and lending business, and selling agent business.