TMB price slumps on capital increase

TMB Bank stock slumped 13.5 per cent on Friday as the bank announced a deep discount on its new capital-increase share price as part of a plan to boost capital by Bt35 billion amid huge losses in the third quarter.

The bank's stock closed at Bt1.73 yesterday, while the bank plans to offer new shares at Bt1.40.

Given its third-quarter loss, TMB Bank announced it would boost capital by Bt35 billion by issuing 25.1 million shares at Bt1.40 each.

The price was about 30 per cent lower than the earlier market price.

KGI Securities (Thailand) said in a research that the discount would brings about a big dilution effect for existing shareholders.

"If this [Bt1.40 price] is true, it would be very negative news for TMB's share price, as the dilution would be tremendous - at more than 57.4 per cent - from the issuance of 25 billion new shares," the securities firm said.

- The Nation

TMB Bank set for Bt28-bn boost
TMB Bank has approved its recapitalisation plan, paving the way for a new foreign investor probably ING Bank....
Funds returned to government
The 50 state enterprises remitted a total of Bt86 billion in revenue to the state in fiscal 2007 ended....

{literal} {/literal}

TMB price slumps on capital increase

TMB Bank stock slumped 13.5 per cent on Friday as the bank announced a deep discount on its new capital-increase share price as part of a plan to boost capital by Bt35 billion amid huge losses in the third quarter.

OTHER BUSINESS

TMB Bank set for Bt28-bn boost

Funds returned to government

Top Stories