MOF entitled to share buybacks

Deputy Finance Minister Sommai Phasee said that in selling shares in Siam Commercial Bank and Bangkok Bank worth Bt2.6 billion, the Finance Ministry is entitled to the right to buy back the shares in the future.

"The share sale has been approved by the Cabinet," he said on Monday, noting that the sale should not send any impact on both banks' share prices in the market.

The shares will be sold to Government Savings Bank as the ministry is raising funds to buy new share issues of Esso (Thailand), which is under the plan to list on the Stock Exchange of Thailand.

Sommai however refused to comment where the ministry would seek money for the purchase of new share issues by TMB Bank.

- The Nation

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MOF entitled to share buybacks

Deputy Finance Minister Sommai Phasee said that in selling shares in Siam Commercial Bank and Bangkok Bank worth Bt2.6 billion, the Finance Ministry is entitled to the right to buy back the shares in the future.

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