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Webull Securities (Thailand) Co., Ltd. ("Webull Thailand"), a subsidiary of Webull Corporation (NASDAQ: BULL), has completed the acquisition of shares in Pi Securities Public Company Limited ("Pi Securities"). The transaction closed on 31 August 2026 following approval from the Securities and Exchange Commission of Thailand (SEC).
The acquisition was carried out through a share sale and purchase agreement among Webull Holdings (Singapore) Pte. Ltd., Webull Thailand's direct parent company, Webull Corporation, Webull Thailand's ultimate parent company, Country Group Holdings Public Company Limited ("CGH"), the controlling shareholder of Pi Securities, and Pi Securities. Under the agreement, Webull purchased all of the shares held by CGH, representing approximately 90.98% of the equity interest in Pi Securities, for total consideration of approximately US$90 million.
Webull separately acquired an additional approximately 8.38% equity interest in Pi Securities from another shareholder under a separate share sale and purchase agreement, for consideration of US$10,000,000. Together, the two transactions resulted in Webull acquiring approximately 99.36% of Pi Securities for an aggregate consideration of approximately US$100,000,000.
Pi Securities has operated in Thailand's financial and capital markets for more than 50 years, with a presence in Thai equities and derivatives. The firm has consistently ranked among the top five brokers by trading volume on the Thailand Futures Exchange (TFEX), alongside expertise in wealth management and as a DR issuer. Pi Securities' investment consultant and research teams provide advisory services and insights tailored to Thai investors.
Webull brings its investment platform, investment technology, infrastructure and AI capabilities, along with a network of partners with expertise in developing and issuing ETFs. Combined with Pi Securities' DR capabilities, Webull says this can broaden Thai investors' access to investment in overseas-listed companies and global investment themes.
Chonladet Khemarattana, Chief Executive Officer, Webull Thailand
Chonladet Khemarattana, Chief Executive Officer, 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."
Webull aims to expand in Thailand through technology development, product expansion, and growth of its research, investment consultant, wealth management, and other specialist teams. The company is also looking to expand its presence in the wealth management segment, combining its regional network and technology with Pi Securities' wealth expertise and specialist teams.
For High Net Worth clients, the Webull Prime programme, launched in 2025, and a partnership with Gaysorn Village will support Webull's wealth proposition and client experience. For the mass-affluent segment, Webull will partner with a bank in Thailand to expand access to global investment opportunities through a banking ecosystem, while the upcoming TrueMoney Mini App is intended to extend Webull's technology to a broader retail audience.
Webull is targeting a combined Assets Under Management (AUM) figure of THB 200 billion with Pi Securities.
In the initial phase, Webull Thailand and Pi Securities will continue to operate independently under their respective brands, with both companies continuing to serve their existing customers without interruption.
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