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LH Financial Group Public Company Limited is a non-operating holding company established with compliance's guideline on the Bank of Thailand's Notification, which has been requiring that a financial institution have to restructure the shareholder structure of its group in line with the guideline on consolidated supervision.
LH Financial Group Public Company Limited was established on 22 April 2009 with initial registered capital of 100,000 baht, with the core objective of acting as the holding company of a financial business group. As a non-operating holding company, the company holds shares in other companies for the purpose of acquiring their management control.
On 19 June 2009, the company submitted an application to the Bank of Thailand to establish the financial group. Then on 28 October 2009, the Bank of Thailand allowed the company and Land and Houses Bank Public Company Limited to set up a financial business group, with the company acting as the holding company, the bank as the subsidiary under the solo consolidation group, and Land and Houses Fund Management Company Limited as a subsidiary outside the solo consolidation group. Moreover, the company has to operate its business under the compliance supervision of the Bank of Thailand under the Financial Institution Business Act B.E. 2551.
On 10 June 2009, the company had been restructuring its shareholder's structure accord with the plan to set up financial business group which was approved by the Bank of Thailand. On 27 November 2009 the Securities and Exchange Commission had approved the company to offer new securities and warrant to purchase in public under the shareholding restructuring plan. On 1 December 2009 the company has issued and offered new ordinary shares to the existing shareholders of Land and Houses Bank Public Company Limited to exchange with Land and Houses Bank Public Company Limited's ordinary shares at ratio of 1:1, similar on 9 December 2009, the company registered to paid up with Ministry of Commerce after that the shareholders of Land and Houses Bank Public Company has become LH Financial Group Limited shareholders and the company holds shares in Land and Houses Bank Public Company Limited 99.99% of paid-up share.
The Stock Exchange of Thailand has received the company's shares to securities listed and has begun and completed its first trading day on 10 May 2011 under the LHBANK symbol.
On 22 January 2014, the company purchased a 99.79% paid-up share capital of CIMB International (Thailand) Public Company Limited and also purchased a 99.99% paid-up share capital of CIMB Advisories (Thailand) Company Limited. Furthermore, On 15 January 2014, the Bank of Thailand has allowed both of the mentioned company to be included in the financial group as a subsidiary (exclude Solo Consolidation). The objective of the mentioned transactions is to extend its services in stock trading and financial counseling services. The two companies will be renamed as Land and Houses Securities Public Company Limited and Land and Houses Advisory Company Limited respectively.