6 September 2017
Dear i*Trade@CIMB customers,
Following our announcement on the strategic partnership with China Galaxy Securities Co. Ltd. in June, we are pleased to inform you that CIMB Group Sdn Bhd (“Group”) has today signed a conditional Share Purchase Agreement to acquire the entire equity interest of Jupiter Securities Sdn Bhd, a licensed securities and stock broking company based in Kuala Lumpur, Malaysia.
We previously announced that CIMB Group had entered into a conditional Share Purchase Agreement with China Galaxy on 6 June 2017 in connection with the latter’s acquisition of 50% interest in the Group’s ex-Malaysia cash equities business. Both sides are in the midst of fulfilling the conditions precedent for this transaction, including but not limited to seeking the relevant regulatory approvals.
The proposed acquisition of Jupiter Securities marks the first step for the inclusion of the Group’s Malaysia cash equities business into the proposed partnership with China Galaxy. Completion of the proposed acquisition is still subject to among others, approval from the relevant regulatory authorities. Upon completion, Jupiter Securities shall be the platform for the partnership’s Malaysia operations.
Clients' securities accounts with CIMB will not be affected and there is no action required from our clients.
We look forward to serving you better and for your continued support.
CIMB Investment Bank Berhad (18417-M)
(A Participating Organisation of Bursa Malaysia Securities Berhad