BANGKOK: CIMB Group Holdings Bhd, owner of CIMB Thai Bank, could launch a public offering worth US$136 million (RM469.2 million) in the Thai market in June, the president of its Thai unit said.
"It should be in June that the parent firm's shares will be listed on the Thai market. We have to wait until the first-quarter earnings come out and seek approval from the SEC," CIMB Thai president Subhak Siwaraksa told reporters who travelled to Kuala Lumpur with the bank at the weekend.
CIMB, Malaysia's second-biggest bank, which owns 94% of CIMB Thai Bank, would become the first foreign company to have a dual listing in Bangkok.
The plan is subject to approval by CIMB shareholders and authorities in the two countries, including the SEC, the Thai market regulator.
Thailand is trying to encourage high-profile foreign firms to list in Bangkok to make the market more attractive to foreign investors.
With a market value of US$12.8 billion, CIMB would be among the top three companies on the Stock Exchange of Thailand and the largest financial group. Thailand's top lender, Bangkok Bank, is valued at US$6.4 billion.
The bank has said it planned to sell up to 35 million shares to raise about 4.5 billion baht (RM466.57 million) in the initial public offering in Thailand. — Reuters
About Me
- Nuang
- Ibrahim bin Ramli@Nuang started his career with CIMB Wealth Advisors Berhad as Agency Manager in April, 2008.Previously he was an Internal Auditors and Accounts Executive with Perodua Sales Sdn Bhd since 17 August, 1994. His background:- 1.Certified of Achievement for Master Sales Leadership from Dr Lawrence Walter Ng of President of The Art Of Learning and International Of Learning Without Learning 2.Certified for eXtra Ordinary Performance of Lawrence Walter Award Certificate for One Million Ringgit Club 2007 3. Certified Life & General insurances 4. Conferred with Diploma in Business Studiess & Bachelor of Business Admin(Hons)Finance from UiTM, Terengganu Branch & Shah Alam respectively;
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