LHFG Acquires Additional 10.99% Stake in Taiwan’s CTBC Bank to Top at 46.61%

LH Financial Group Public Company Limited (LHFG) reported a successful acquisition of a 10.99% shareholding in CTBC Bank with an investment of 4.2 billion baht.

 

Reference is made to the company’s previous notification informing you that CTBC Bank Company Limited (CTBC) has shown the intent to acquire shares from Ms. Piangjai Harnpanij and Mr. Pairoj Paisarnsrisomsuk, in aggregate of 10.99% of the total issued and voting shares and the aforementioned intent has been approved by the Bank of Thailand and regulatory authorities of Taiwan.

 

On September 8, 2021, LHFG officially announced through the Stock Exchange of Thailand that the purchase of the shares has been successfully completed, consequently CTBC holds LHFG shares in aggregate of 46.61% of the total issued and voting shares.

 

CTBC Bank is a leading financial services group in Asia and is Ranked number 1 most valuable brand in Taiwan’s financial industry. The Bank was named the Best Retail Bank in Asia Pacific for 2019 by the Asian Banker.

CTBC Bank has a high credit rating of ‘A’/ ‘A’/ ‘A2’ by S&P/ Fitch / Moody’s and has comprehensive overseas network with over 260 service outlets in 14 countries and 152 branches in Taiwan (branches, subsidiaries and their branches, and representative offices), in America, Canada, Japan, India, Indonesia, the Philippines, Thailand, Vietnam, Hong Kong, Singapore and mainland China. The Bank has been actively expanding into overseas markets and focuses on building a complete cross-border financial service platform.