Thai Credit Bank Public Company Limited ("the Bank" or "Thai Credit Bank") marked its inaugural trading day on the Stock Exchange of Thailand under the financial/banking business group with the abbreviation "CREDIT" as a success. This milestone signifies the Bank's achievement as the first commercial bank to raise funds (IPO) in a decade.
Prof. Kitipong Urapeepatanapong, Chairman of the Bank, Mr. Winyou Chaiyawan, Chief Executive Officer, and Mr. Roy Augustinus Gunara, Managing Director, graced the opening ceremony at the SET building. The event was honoured by His Excellency Mr. Mark Gooding OBE, the British Ambassador to Thailand, executives from the Foreign, Commonwealth & Development Office (FCDO), as well as senior executives, institutional investors, both domestic and international, world-class Cornerstone Investors, the board of directors, executives, and esteemed guests. They gathered to congratulate Thai Credit Bank on February 9, 2024, at the Stock Exchange of Thailand building.
Thai Credit Bank specialises in providing Micro SMEs (MSME) and micro and nano finance, catering to high-growth business sectors in Thailand. The Bank has offered additional common stock issued and available for sale, alongside common stock offered for sale by existing shareholder OCA Investment Holdings I Pte. Ltd., an investment company in the Olympus Capital Asia group. This totals 254,124,200 shares with a par value of 5.00 Baht/share, representing approximately 20.7% of the issued and paid-up ordinary shares post-IPO.
OCA Investment Holdings I Pte. Ltd., an independent mid-market Private Equity firm with a significant focus on inclusive financial services in Asia, has been a valuable partner to Thai Credit Bank since 2019. They will retain a 7.6% stake in Thai Credit Bank post-IPO and remain committed to supporting the company in achieving industry-leading growth and returns for shareholders.
Mr. Winyou Chaiyawan, Chief Executive Officer, emphasised, "Listing the company on the stock exchange will enhance our potential for continuous and sustainable growth. The funds raised will strengthen the Bank's capital, facilitating expansion of the loan portfolio and the enhancement and development of information technology systems. This will drive digital transformation and secure IT infrastructure, aligning with Thai Credit Bank's vision of supporting customers' business growth and enhancing quality of life through our unique micro-finance services and 'Everyone Matters' philosophy. We are committed to becoming a sustainable commercial bank, delivering good returns for investors, and ready to provide loan services to the Thai people."