Country Group Holdings Public Company Limited (SET: CGH) has announced that its Board of Directors approved the disposal of its entire investment in two subsidiaries: Pi Securities PCL (Pi), in a proportion of 90.98%, and Top Trader Co., Ltd. (TT), at 55.99%. The buyer is Webull Holdings (Singapore) Pte. Ltd. (WBH), a subsidiary of the NASDAQ-listed Webull Corporation.
The total transaction value is approximately THB 2,865 million (approximately USD 90 million). The payment structure is divided into two main parts:
- USD 10 million in cash, payable in two installments: upon the effective date of the Share Purchase Agreement and at the closing of the deal.
- USD 80 million in BULL shares (WeBull Corporation), which includes USD 60 million in payment shares and USD 20 million in escrow shares to accommodate potential final price adjustments.
The final purchase price is subject to a price adjustment mechanism if Pi’s assets under management (AUM) decrease materially, excluding changes caused by market volatility or economic conditions.
Mr. Tommy Taechaubol, Acting Chairperson and CEO of CGH, noted that the divestment will help reduce the financial burden and volatility associated with the capital-intensive securities business. CGH plans to reallocate the proceeds to high-growth sectors such as healthcare (Wellness), lending services, and sports-related lifestyle businesses.
The transaction requires approval from at least three-fourths of shareholders at the Extraordinary General Meeting (EGM) on August 10, 2026. The deal is expected to be completed within the third quarter of 2026. Additionally, the board approved a special remuneration for six directors totaling no more than THB 24.25 million, contingent upon the successful completion of the sale.
