Webull Expands Thai Footprint With US$100 Million Acquisition
Webull has acquired Pi Securities for approximately US$100 million, expanding its presence in Thailand. The transaction, which received approval from Thailand’s Securities and Exchange Commission, involved Webull purchasing a 90.98% stake from Country Group Holdings for US$90 million and an additional 8.38% from another shareholder for US$10 million, bringing its total ownership to 99.36%. Pi Securities has over 50 years of operation in Thailand, covering equities, derivatives, wealth management, and depositary receipt issuance. Webull plans to integrate Pi Securities’ local expertise with its technology and AI capabilities to enhance investment insights for Thai investors.
Webull’s US$100 million acquisition of Pi Securities reflects a clear strategy to deepen its footprint in Thailand’s financial market. The move combines Webull’s technology and AI capabilities with Pi Securities’ established local research and wealth management services. This integration aims to make investment insights more accessible and scalable for Thai investors, while also broadening access to global investment themes through Webull’s international network and Pi Securities’ depositary receipt business. The immediate goal for Webull is to expand its product offerings and wealth management services in Thailand. The company targets THB 200 billion (about US$6.1 billion) in combined assets under management. Upcoming initiatives, such as a partnership with a Thai bank and a TrueMoney mini app, point to a focus on reaching a wider retail investor base. The challenge will be integrating the two entities effectively while maintaining their independent operations to avoid customer disruption, as stated by Webull Thailand CEO Chonladet Khemarattana.
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