BBL Clears BTS’ Shares Off Its Portfolio, Booking ฿5bn of Profit for “Permata” Deal!

Mr. Kavin Kanjanapas, Chief Executive Officer of BTS Group Holdings Public Company Limited (BTS), has revealed that Bangkok Bank Public Company Limited (BBL) has made an offer to sell BTS shares back to the group, but he had denied the offer due to the silent period during the closing of financial statement for the year.

Mr. Kavin predicts that BBL might sell BTS shares through security companies which consequently sells all BTS shares to the funds while asserting that BBL has been investing in BTS since the beginning, thus, should have had the shares at the price around 3-4 baht per shares.

 

A reporter has stated that on the morning of December 19, 2019, there are 19 big lot transactions of BTS shares at a total volume of 600 million shares or 7.44 billion baht in value at the price of ฿12.40/share.

According to the research of “Kaohoon Online”, BBL held 545,466,733 of BTS shares as of the end of July 2019. If BBL sold all of BTS shares, assuming the bank had the cost of 3-4 baht per shares, BBL would earn profit around 4.58 billion – 5.13 billion baht from selling BTS shares.

The rumors and anticipation of selling shares from BBL was due to the fact that the bank had entered into a purchase deal to take over PT Bank Permata Tbk by purchasing a total of 89.12% stake from the Standard Chartered and Astra at a value of approximately 81 billion baht.