At 1.8 times book value, the first major overseas acquisition by a Thai bank isn’t cheap. Since 2010, Thai companies have led or taken part in $83 billion of overseas M&A, including 18 deals of $1 billion or more. The Thai overseas M&A wave picked up momentum as democracy was snuffed out in 2014 by the second military coup in eight years. ADADBangkok Bank shareholders are a little miffed about the overseas shopping expedition. Indonesia is an even lower $4,000, but there, the ratio of people 65 or older is half that of Thailand’s 12%.

Source: Washington Post December 14, 2019 01:07 UTC