TMB Jumps 5% after TCAP Announces Its Interest in Acquiring Additional Stakes in TMB

The share price of TMB Bank Public Company Limited (TMB) jumped ฿0.04/share or 4.88% to trade at ฿0.86/share with a trading value of 92.5 million baht as of 10:12 local time in Thailand (GMT+7).

The increase might due to the announcement of Thanachart Capital Public Company Limited (TCAP) yesterday, which had announced that the company 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. The decision to further acquire shares in TMB was due to the current situation the 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.