Shares of SCB X Plc, a holding company that controls Thailand’s fourth-largest lender by assets, surged on the first day of trading on Wednesday after it successfully concluded a stock-swap offer for the banking unit.
SCB X shares rose to as high as 121.50 baht before trading at 117.50 baht in the morning session. That compares with the Tuesday closing price of 71 baht of Siam Commercial Bank stocks they replaced, and 115.5 baht on April 11, the cut-off date for the shares to be offered in the 1:1 swap ratio.
With 99.06% of Siam Commercial stocks swapped for SCB…
