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Mar. 2--United Securities plans to merge with Trinity Securities through a share swap. The merger will allow Trinity to achieve a backdoor listing on the Stock Exchange of Thailand.
United Securities told the SET yesterday that it had signed a merger agreement late last month with Trinity Wattana Co, the holding company of Trinity Securities, Trinity Information and Trinity Advisory.
The share swap will be based on book values plus a valuation of securities business licences and premiums.
Kulvat Janvayanavit, United Securities' president, said due diligence was expected to take one month.
The proposal would then go before shareholders, ...
Source: HighBeam Research, Thai Brokerage Firms Plan Merger.