GE sells 7.6% stake in Bank Ayudhya

Published: 26 Sep 2012 at 12.35
Online news: News

General Electric (CE) has sold a 7.6% stake in Bank of Ayudhya (BAY) to large institutional investors for over 14 billion baht.

A total of 468.135 million shares were sold at an average price of 31.30 baht, for a total sum of 14.65 billion baht.

The selling price was lower than the price traded on Tuesday on the Stock Exchange of Thailand, which closed at 33.25 baht, causing BAY shares to drop today to 30.75 baht, down by 2.50 baht at the end of the morning session in total trade of 6.38 billion baht.

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justfacts
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Discussion 2 : 29 Sep 2012 at 04.382
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Best I remember,when GE bought in BAY was selling in the mid to low teens. So not a bad timme to sell, might not be any reflection on thailand just a sound business decision
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khunbill
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Discussion 1 : 26 Sep 2012 at 13.371
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This could just be the beginning if Thailand doesnt get its act together.
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GE sells 7.6% stake in Bank Ayudhya | Bangkok Post: business