TMB rakes in B38bn through exercising TMB-T1TMB chief executive Piti TantakasemTMB Bank has raised 38 billion baht through its shareholders' exercise of transferable subscription rights (TMB-T1) for newly issued shares as part of its planned acquisition of Thanachart Bank (TBank), worth 167 billion baht. TMB chief executive Piti Tantakasem said 90% of the bank's shareholders exercised TMB-T1 for newly issued shares worth over 38 billion baht. TMB recently issued 31.5 billion units of TMB-T1 to its existing shareholders to raise up to 42 billion baht from converting the units to the bank's newly issued shares at a ratio of 1:1. Based on the purchase price, the deal is valued at 167 billion baht. TMB shares closed on Tuesday on the SET at 1.56 baht, down two satang, in trade worth 710 million baht.

Source: Bangkok Post December 03, 2019 23:26 UTC