LINE MAN Wongnai and LINE Thailand Acquire Rabbit LINE Pay’s Shares
LINE MAN Wongnai and LINE Company (Thailand) Limited acquire the shares of Rabbit LINE Pay Company Limited (“RLP”) from previous shareholders, RabbitPay System Company Limited and Advanced mPAY Company Limited. The transaction allows LINE MAN Wongnai to become the majority shareholder of RLP. Yod Chinsupakul, LINE MAN Wongnai CEO, and In Young Chung, LINE MAN Wongnai CFO, will become the new CEO and CFO of RLP, respectively. The purpose of this acquisition is to bring RLP payment services closer to the LINE ecosystem, including LINE MAN, LINE SHOPPING, LINE App, and Wongnai’s merchant network. The new ownership structure will accelerate the innovation in RLP and create a more seamless experience within LINE MAN Wongnai’s services and also to the wider LINE ecosystem. RLP users will not have any impact from this change of ownership structure. RLP users can keep using RLP payment services in existing channels, including BTS Skytrain ticketing system and AIS’s bill payment services. […]