Weerawong, Chinnavat & Peangpanor Ltd. advised Country Group Securities Plc (CGS), a leader in the Thai securities industry, on an innovative company structure which will allow the company to pursue new business opportunities.  

This deal is the first of its kind under the Notification of the Capital Market Supervisory Board Re: Shareholding and management restructuring of listed companies (Notification No. Tor. Jor. 34/2552). Although the notification was passed in 2009, it had never been interpreted and utilized by a listed company to create a business entity outside of the securities industry. Listed companies will surely find restructuring easier in the wake of CGS’s groundbreaking deal. 

Under the CGS shareholding and management restructuring, Country Group Holdings Plc (CGH) was set up as a new holding company in order to launch a tender offer for a share swap of CGS shares. CGS was then delisted and CGH was listed on the Stock Exchange of Thailand. The restructuring will position the new entity for expansion in the ASEAN Economic Community to be implemented next year.

The Weerawong C&P team was led by Partner Peangpanor Boonklum.