FINANCE
Thai Credit Retail Bank (TCRB) expects to complete the acquisition of a 75% stake in Siam Industrial Credit (Sicco) this year to expand the bank's assets to 32 billion baht, said CEO Mongkol Leelatum.
The bank plans to conduct due diligence into Sicco's assets this month to set an actual offering price for the SET-listed finance company's shares. The first due diligence last year set the price at four baht per share. The buying price should depend on Sicco's asset quality and market environments.
TCRB this week announced it would purchase a 38.65% stake in Sicco from the company's major shareholder, Siam Commercial Bank. The remaining shares will be acquired through a tender offer from the company's shareholders. The acquisition will cost the small bank around 2.4 billion baht.
This article is older than 60 days, which we reserve for our premium members only.You can subscribe to our premium member subscription, here.
About the author
- Writer: Somruedi Banchongduang
- Position: Business Reporter
Latest stories in this category:
- Greece faces bailout showdown
- Gold prices for Saturday
- Kasikorn makes global bet with Macquarie
- Thai offices abroad told to go on the offensive
- PTTEP Bongkot South project moves ahead of schedule
- Amlo: Thailand facing international blacklist
- Country Group tethers promotion plans
- Shell shells out B1bn for pump project
