Webull Securities Thailand has completed the acquisition of approximately 99.36% of Pi Securities Public Company Limited for aggregate consideration of about $100 million, significantly expanding Webull’s presence in Thailand and creating a platform that is targeting THB 200 billion in combined assets under management.
The transaction was completed on August 31, 2026, following approval from Thailand’s Securities and Exchange Commission.
Under the primary share purchase agreement, Webull acquired all Pi Securities shares held by controlling shareholder Country Group Holdings Public Company Limited, representing approximately 90.98% of Pi Securities, for roughly $90 million.
Webull separately acquired another approximately 8.38% equity interest for $10 million, bringing its aggregate ownership to about 99.36% and its total consideration across the two transactions to approximately $100 million.
The acquisition combines Webull’s digital investment technology, infrastructure, AI capabilities and international network with a Thai securities firm that has operated for more than 50 years.
Pi Securities has established businesses across Thai equities, derivatives and wealth management and has consistently ranked among the top five brokers by trading volume on the Thailand Futures Exchange. It also operates as a depositary receipt issuer and has investment consulting and research teams serving Thai investors.
Webull plans to use those local capabilities alongside its own technology platform to build a more comprehensive investment business in Thailand.
The company highlighted opportunities to combine Pi Securities’ local research and investment expertise with Webull’s data, technology and artificial intelligence capabilities, potentially enabling research and investment insights to be produced and distributed more efficiently and at greater scale.
Webull also brings relationships with international partners involved in developing and issuing ETFs.
Combined with Pi Securities’ depositary receipt capabilities, the companies believe the platform can broaden Thai investors’ access to overseas-listed companies and global investment themes.
The combined organization plans further investment across technology development, product expansion, research, investment consulting, wealth management and specialist teams.
Wealth management is expected to become a particularly important growth area.
Webull plans to combine its regional technology and distribution network with Pi Securities’ existing wealth management capabilities to develop a broader ecosystem offering personalized investment solutions, research and cross-border networking and business-matching opportunities across Asia-Pacific.
For high-net-worth clients, Webull plans to build around Webull Prime, a program launched in 2025, together with its partnership with Gaysorn Village.
For the mass-affluent market, Webull said it plans to work with a Thai bank to use its technology to expand access to global investments through the banking ecosystem.
The company is also preparing a TrueMoney Mini App, which is intended to demonstrate how Webull’s investment technology can be distributed to a broader retail audience.
Webull has set a goal of reaching THB 200 billion in combined AUM with Pi Securities, reflecting the scale of its ambitions in Thailand following the transaction.
In the initial phase following the acquisition, Webull Thailand and Pi Securities will continue operating independently under their existing brands.
The companies said this structure is intended to preserve uninterrupted service for their respective customers while they develop longer-term opportunities to combine their technology, products, research and investment capabilities.
Webull Thailand currently provides access to investments across the U.S., Thailand, Hong Kong and China A-share markets, including stocks, ETFs and options.
Parent company Webull Corporation operates a global digital investment platform through licensed brokerages in 18 markets across North America, Asia-Pacific, Europe, Africa and Latin America.
The company serves more than 28 million registered users globally, offering access to products including stocks, ETFs, options, futures, fractional shares and digital assets.
KEY QUOTE:
“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,” he added.
Chonladet Khemarattana, Chief Executive Officer of Webull Thailand
