I’ve referred to Siam Commercial Bank as the Purple Chicken since 2013 when they requested and received from the Bank of Thailand the right to expand the single lender limit from 25% to 60% to assist CP Group in the financing for their acquisition of MAKRO.
A few weeks ago SCB decided to become a tech company! And the share price went to the moon!! ( okok +20%…)
Here’s the summary:
SCB announces that it will delist via share swap with a new company SCBX – timeline 1Q22. There will be a special dividend of THB70b, 70% will be used to fund new business ventures, and 30% will be paid as dividends to shareholders (equivalent to THB6.18/sh based on 3399m shares) – time line 2Q22. EGM is set Nov 15. SCBX will become the holding company with shares in many…
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