FSS Clarifies the Big Lot, Asserting ICBC as Buyer-Seller and No Structural Change
FSS firmly affirms that there is no material change in management structure, management control, and policies after clarifying that the buyer and seller were ICBC.
Today, June 7, 2019, Finansia Syrus Securities Public Company Limited (FSS) has reported further clarification regarding the selling of 71,440,151 shares in the company, or equivalent to 12.29% of the total shares of FSS to Apex Speed Holdings Limited under a big lot transaction on May 31, 2019.
The company has asserted that the seller is Industrial and Commercial Bank of China (Thai) Public Company Limited which is the subsidiary of Industrial and Commercial Bank of China Limited (ICBC) who hold its share equivalent to 97.86%.
Meanwhile, the buyer is Apex Speed Holdings Limited which is 100 % subsidiary of ICBC International Holdings Limited, which in turn, is a 100% subsidiary of Industrial and Commercial Bank of China Limited. Therefore, the Seller and the Buyer share the same Major Shareholder which is ICBC.
After the big lot transaction, the major shareholders’ structure was changed. In this regard, Industrial and Commercial Bank of China (Thai) Public Company Limited who was the second major shareholder of FSS as of March 29, 2019, by holding 22.29% has become the third major holder as of June 5, 2019.
The Buyer holds shares through Thai NVDR Company Limited (4th major shareholder) and KIM ENG SECURITIES (HONG KONG) LTD. FOR DVP CLIENT (5th major shareholder). in the amount of 26,928,391 shares and 44,511,760 shares, respectively, or equivalent to 12.29% of the total shares of FSS.
In addition, FSS has firmly affirmed that there is no material change in its management structure and management control as well as its policies.