SCBX EGM resolution gives green light to the issuance of up to 100 billion baht in debentures to grow business under the Mothership strategy
Seeking to become a leading regional financial technology group
SCBX is poised to continue to grow and expand the businesses under its "Mothership" strategy after receiving approval from the Extraordinary General Meeting of Shareholders (EGM) no. 1/2023 held on January 19, 2023 for the issuance and sale of debt securities in an amount of not more than 100 billion baht or the equivalent in other currencies over a five-year period to support investments according to its business plans. The plan will focus on expanding consumer finance, digital assets, and platform business with high growth potential, including investments in blockchain technology and climate tech, to drive the business of the future, enhance competitiveness, and support regional expansion in order to lead the company to unrestricted growth.
Mr. Arthid Nanthawithaya, Chief Executive Officer of SCB X Public Company Limited, stated, "The approval of the issuance of debt securities not exceeding 100 billion baht or the equivalent in other currencies of SCBX reflects the shareholders’ confidence in the company's strategy and financial strength, providing the company with funding flexibility to carry out its business plan. SCBX will focus primarily on growing and improving its three most promising areas of business, comprising consumer finance, digital assets, and platforms. To prepare for the expansion of SCBX to the regional level, the funds will also be utilized to invest in technologies that will be the backbone of future business, such as blockchain and climate tech.”
“In executing bond issuance, we will take into consideration capital market conditions and annual investment opportunities to ensure the most optimal funding arrangement. The company would like to express its gratitude to its shareholders for their continued confidence in the strategy and operational plan to establish the SCBX Group as a regional financial technology company capable of competing on a global scale, delivering superior returns to shareholders over the long term, and steering the country to sustainable growth."
About SCBX
SCBX is the mothership of the financial technology business group, comprising Siam Commercial Bank, SCB 10X Co., Ltd., Card X Co., Ltd., InnovestX Securities Co., Ltd., Purple Ventures Co., Ltd., and other companies. Aspiring to become ‘The Most Admired Regional Financial Technology Group’, SCBX operates as a private equity company holding shares in various companies, with a particular emphasis on investing in financial enterprises and digital technologies. It captures some of the biggest growth opportunities with superior returns, by adapting to consumers' changing behaviours and demands in a timely manner. These industries stand to improve the overall quality of life while serving a greater purpose. The company conducts business with flexibility and prudence in governance and risk management and has the potential to compete equally in global competitions.
