ICBC buys 19.3% stake in ACL Bank at Bt11.5 per share

The Industrial and Commercial Bank of China (ICBC) (601398.SH), the world’s largest by market value, announced late Tuesday it had reached an agreement with Bangkok Bank of Thailand to buy a 19.26% stake in Thailand’s ACL Bank. Under the agreement, the ICBC would acquire the stake held by Bangkok Bank at Bt11.5 (US$0.343) per share. The ICBC said it would also make a tender offer to all other ACL Bank shareholders, making its bid for the bank worth a total of about Bt18.29b (US$544.5m). (Xinhua News Agency)

Related posts:

  1. TSC share price lags auto sector while profit recovers The Thai Steel Cable (TSC) share price has increased only...
  2. Kasikorn Bank keen on trade finance (Bangkok Post) KBank keen on trade finance-Kasikornbank is aiming for 36% growth...
  3. Bangkok Bank yuan licence China has granted Bangkok Bank an exclusive licence to clear...
  4. Kingdom sees Bt11.4b in FDI from 5 partners Thailand gained Bt11.4b in foreign direct investment from Australia, New...
  5. Thai Bank NPL fell slightly The banking system's nonperฌforming loans eased to 5.37 per cent...

, , , ,

Comments are closed.