“An Ordinary Selling for Profit,” Says BBL on the Selling of BTS Shares
BBL's Deja said that the selling of BTS shares was to take profit, but not relate on the "Permata" deal in any way.
Mr. Deja Tulananda, Bangkok Bank Public Company Limited (BBL)’s Chairman of the Board of Executive Directors, has revealed that the selling of BTS Group Holdings Public Company Limited (BTS) shares the other day was an ordinary selling for profit which is not related to the “Permata” deal in any way.
Mr. Deja has asserted that the bank had enough funds for the acquisition of PT Permata Bank Tbk. Meanwhile, BBL currently holds shares of 48 securities in its portfolio with a total value of 52.8 billion baht in which Mr. Deja said that it is a normal trading process to sell when the bank has profit and buy when the share prices drop.
However, the acquisition of PT Permata Bank requires approval from the Bank of Thailand before BBL could officially enter into the agreement as well as approval from BBL’s shareholders. Primarily, the bank expects to enter into a sale purchase agreement around the middle of 2020.
