AEC Securities Public Company Limited (SET:AEC) agreed to acquire Thai Smile Bus Co., Ltd. for THB 120 million on October 7, 2020. Under the terms, AEC Securities will acquire 12 million shares of Thai Smile Bus. at THB 10 per share. Post completion, AEC Securities will hold 100% stake in Thai Smile Bus. In a related transaction, AEC Securities Public Company Limited (SET:AEC) agreed to acquire 9.9% stake in Coverant Co., Ltd. for approximately THB 60 million. Transaction will be financed from the issuance of newly issued shares of AEC Securities and working capital of AEC Securities. As of August 2020, Coverant reported total shareholders' equity of THB 119.98 million. Transaction is approved by the board of AEC Securities Public Company Limited. Transaction is expected to complete in end of October 2020.