Gortune allots B1.4bn for FSX stake

Group set to become largest shareholder

Gortune International Investment Holding Company, a prominent Chinese group, plans to invest a total sum of 1.4 billion baht to eventually acquire up to 49.9% of SET-listed Finansia X (FSX), becoming the largest shareholder of the Thai securities group.

FSX chief executive Chuangchai Nawongs said Gortune Group, with shareholders’ equity of 16 billion yuan (roughly 80 billion baht), and affiliates will acquire up to 228 million of FSX’s existing shares from current shareholders, as well as new capital shares through private placement (PP).

The transaction, which is expected to be completed early next year, would give Gortune 46% of FSX, making FSX and Finansia Syrus Securities a regional hub for the Chinese firm to expand its business in Southeast Asia, he said.

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