CGS-CIMB Securities Thailand has announced a change to its corporate name to CGS International Securities (Thailand) Company Limited (symbol: CGSI) after China Galaxy Securities acquired 100% shareholding in CGSI last December.
China Galaxy Securities is the second largest securities company in China and is wholly owned by the Chinese government. It has more than 500 branches across the country.
Patcharanon Cheevakrianggrai, Chief Executive Officer of CGSI, stated that the name change is in accordance with its parent company’s name that has acquired 100% shareholding in the company formerly known as CGS-CIMB Securities. CGSI is now the only Thai brokerage company that is wholly owned by the Chinese government.
CIMB Group sold 50% of CGS Securities’ shareholding to China Galaxy Securities in 2018. The Chinese broker purchased 25% of shareholding in December 2022 and the final 25% stake last December.
The CEO stated that the internal structural change does not affect rights and operations between CGSI and its clients. Any transactions of deals made prior to the change will be carried out under CGSI.
He expected the change will strengthen the relationship between China and Asean as CGSI will have more connections with regional clients and investment opportunities.
Services and operations will be provided as normal. Clients can access information through its website www.cgsi.co.th
