Webull is stepping up its expansion in Thailand after acquiring Pi Securities for about US$100 million.
The transaction received approval from Thailand’s Securities and Exchange Commission (SEC).
Webull acquired a 90.98% stake from Pi Securities’ controlling shareholder Country Group Holdings for about US$90 million.
It purchased another 8.38% stake from a different shareholder for US$10 million, bringing its ownership to about 99.36%.
Pi Securities has operated in Thailand for more than 50 years across equities, derivatives and wealth management. It is also a depositary receipt issuer.
Chonladet Khemarattana, Chief Executive Officer of Webull Thailand, said,
 “By combining Pi Securities’ local research expertise and investment specialists with Webull’s technology, data and AI capabilities, we can enhance how investment insights are produced, distributed and consumed — making them more timely, scalable and accessible to Thai investors, while retaining the local expertise and investment judgment behind the research.”
The acquisition could also broaden access to overseas-listed companies and global investment themes through Webull’s international network and Pi Securities’ depositary receipt business.
Webull plans to expand its products, specialist teams and wealth management services in Thailand.
Upcoming initiatives include a partnership with a Thai bank and a TrueMoney mini app aimed at reaching more retail investors.
The company is targeting THB 200 billion, or about US$6.1 billion, in combined assets under management (AUM) with Pi Securities.
Both businesses will initially operate independently under their existing brands to avoid disruption to customers.
Featured image: Edited by Fintech News Singapore, based on image by Webull
