PNGX Group and MUFG Pension & Market Services today announced that they have reached agreement for PNGX Group to acquire PNG Registries from MUFG Corporate Markets, a division of MUFG Pension & Market Services. The transaction is subject to clearance by ICCC.
The proposed acquisition represents a significant milestone in the strategic development of the country's financial infrastructure and capital markets. If cleared, the transaction will see PNG Registries become part of PNGX Group, combining strengths and capabilities to better serve customers and support long-term market growth.
“This is a transformative opportunity for both organizations and for the capital markets as a whole,” said David Lawrence, Chairman of PNGX Group. “If cleared, the integration of PNG Registries into our group will not only enhance our service offering but also help drive innovation and efficiency in financial market operations.”
“PNG Registries has been an integral part of our business and operations since 2007. We would like to thank all of our clients for their partnership and support during this time, and sincerely thank our people, whose dedication and commitment is second to none. This opportunity presents the right time to pass the business into new ownership, and we are confident that PNGX Group will take the business to its next phase of growth,” said Lysa McKenna, CEO of MUFG Corporate Markets.
PNG Registries is a key provider of securities registry services and the proposed acquisition will strengthen the foundation for capital market modernization.
Part of a Broader Market Development Strategy
The acquisition is aligned with broader national efforts to strengthen the capital market ecosystem. In due course, it is expected to support the end-to-end automation of trading, settlement, and registration processes, enabling a more modern, transparent, and efficient market platform. This development is intended to enhance liquidity and facilitate broader market participation.
Continuity for Customers
Until regulatory clearance is obtained, PNG Registries and PNGX Group will continue to operate as separate businesses. There will be no changes to services or operations in the interim. Customers and partners of both companies have been notified and will be kept informed as the process progresses.
MUFG Pension & Market Services and PNGX Group are committed to a smooth and transparent transition, with a focus on continuity and customer service.
