TCAP Expects to Acquire More Shares in TMB after a Dramatic Decrease in Share Price!

Thanachart Capital Public Company Limited (TCAP) has announced that the company had purchased shares of TMB Bank Public Company Limited (TMB) in accordance with the merger plan between Thanachart Bank Public Company Limited (TBANK) and TMB and TCAP became one of the major shareholders of TMB by holding 20.12%.

As per current situation, the Stock Exchange of Thailand Price Index has dropped dramatically and the share price of TMB has decreased as well. The current market price of TMB’s share is much lower than the fundamental value of TMB. Therefore, TCAP has had a policy to invest in additional shares of TMB through the Stock Exchange of Thailand (SET). In this connection, TCAP will hold shares of TMB in proportion not exceeding 22.9% as permitted by the Bank of Thailand.