Nomura Offers to Acquire Rest of Stake in Thailand Unit
Nomura Holdings Inc. (8604), Japan’s largest brokerage, said it will offer as much as 10.4 billion yen ($102 million) to buy the shares it doesn’t already own in its Thai securities unit.
Nomura will offer 2.51 baht (8 U.S. cents) for each share of Capital Nomura Securities Pcl (CNS) between April and June to add to its 38.6 percent stake in the Thai firm, the Tokyo-based company said in a statement. The amount is a 17 percent premium to Capital Nomura’s closing price in Bangkok today.
“The importance of Thailand has increased significantly, not only due to continuous growth in domestic securities market participants based on stable economic growth, but also from the perspective of expanding into surrounding countries, such as Laos, Myanmar and Cambodia, where growth is expected to accelerate,” Nomura said in the statement.
Nomura has sent two executive directors and one director to Capital Nomura Securities, which was formed in 1970 and employs about 530 people, according to the statement.
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