KG Investments Asia (KGI), a pan-Asia investment firm established by Taiwan's influential Koo family and Asian conglomerates, has acquired a controlling stake in Thailand's leading brokerage, Securities One.
The purchase will help it establish a foothold in regional stock markets.
KGI chief operating officer Angelo Koo said the company concluded the deal last week by injecting US$53 million into the Bangkok-listed brokerage firm as part of a recapitalisation plan which would see the issue of new shares and warrants by Securities One.
In return, KGI subscribed for 420 million new shares in the company, or 51 per cent of the enlarged capital, at five baht each.
Mr Koo said the purchase was a long-term investment.
'There is considerable potential synergy between KGI and Securities One and the investment is in line with KGI's commitment to Asia,' he said.
