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Initially established under the name of Eastern Finance and Securities Company Limited (ETFS) |
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In September, ETFS was taken over by Peregrine Group and changed its name to Peregrine Finance and Securities Company Limited (PGFS) |
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After the Financial Crisis, in July, Lehman Brothers through a holding company structure acquired a 99%-stake in PGFS and the name of PGFS was later changed to Global Thai Finance and Securities Company Limited (GTFS) |
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In October, GTFS separated its Finance and Securities businesses, with Global Thai Securities (GTS) becoming a 100%-owned subsidiary of Global Thai Finance (GTF). |
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In March, the Thai Management of Lehman Brothers and Global Thai Finance successfully initiated a management buyout (MBO) of GTF and subsequently renamed to the current of “Advance Finance Company Limited”.
Meanwhile the securities business of GTS subsidiary was divested out of GTF holding since the Management’s objective was to focus purely on finance business.
In May, the Company was upgraded into the Public Company under the title of “Advance Finance Public Company Limited” with the registered and paid-up capital of THB 650 million. |
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In June, IFS Capital Limited, the listed company on the main board of the Singapore Exchange, majority-ownned by the Philip Capital Group, a leading provider of financial and securities services, and manages mutual funds in 11 European and Asian countries with 2,000 expert personnel, has acquired 10%-stake of the Company’s paid-up shares and become our strategic partner since then. |
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