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Yuanta Securities Asia acquires Thailand's KKTRADE Securities

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Yuanta Securities Asia acquires Thailand's KKTRADE Securities

YuantaFinancial Holdings Co. Ltd. said its unit Yuanta Securities AsiaFinancial Services completed its acquisition of Thailand's KKTRADE Securities Co. Ltd.for about 686.9 million baht.

The group said July 10 that Yuanta Securities Asia purchased49,999,998 KKTRADE Securities shares, or a stake of about 99.9% in the company.It acquired the stake from Kiatnakin Bank PCL unit .

The sale was completed July 8.

Taiwan's Financial Supervisory Commission approved the dealvia a letter dated June 14, while Thailand's Securities and Exchange Commissionissued its letter of approval June 23.

As of July 8, US$1 wasequivalent to 35.22 Thai baht.