Nomura gets necessary approvals for tender offer to delist Capital Nomura Securities
Nomura has confirmed that the necessary approvals from CNS shareholders and SET have been obtained.
Nomura Holdings Inc (TYO:8604) today confirms that it has received the necessary approvals to commence a tender offer to delist Capital Nomura Securities (CNS) shares from the Stock Exchange of Thailand (SET). Nomura says it has obtained the approvals of CNS shareholders and SET.
The company will therefore conduct the tender offer from January 2, 2020 to March 5, 2020.
Back in October this year, Nomura Holdings announced its intention to launch a tender offer to delist CNS from SET under local laws and regulations at a tender offer price of THB 2.51 per share.
The move is in line with Nomura’s efforts to rebuild its business platform as part of an enhanced focus on client businesses.
In Thailand, stable economic growth is expected to drive the continuous growth and expansion of the domestic securities business. Since successfully converting CNS into a consolidated subsidiary through a tender offer in 2014, Nomura says it has made efforts to build a stronger relationship with CNS.
Nomura believes that by delisting CNS and further strengthening relationships within Nomura Group, it will be able to more flexibly implement its business strategy and accelerate decision-making. According to Nomura, this is set to help it provide higher value-added services to its clients.
