Update on the merger between TMB Bank and Thanachart Bank ING and MOF exercise TSRs, remaining as major shareholders after the merger.

Event Calendar Press Releases Friday November 15, 2019 11:42
Bangkok--15 Nov--TMB

TMB Bank Public Company Limited (TMB) yesterday notified the Stock Exchange that, ING Bank N.V. (ING) and the Ministry of Finance (MOF), its current major shareholders, exercise their transferrable subscription rights (TSRs) to purchase TMB newly issued shares. Consequently, they will remain the major shareholders after the merger is complete.

The TSRs were allocated to ING on a pro-rata basis from its direct holding and indirect holding through ING SUPPORT HOLDING BV, totaling 9,077,412,246 units. For the MOF, its rights are 8,498,936,101 units in total.

ING has started to exercise its rights while the MOF has fully subscribed to all its TSRs by its investment unit-Vayupak Fund 1. In addition, the MOF has shown the intention to oversubscribe in the case that other shareholders do not fully exercise their rights.

The TSR subscription period starts from November 8 to 22, and TMB expects to close the purchase of entire TBANK common shares within December this year. In addition to fund-raising from TMB's existing shareholders via TSR, all TBANK's existing shareholders including Thanachart Capital Public Company Limited (TCAP) and The Bank of Nova Scotia (BNS) will also use part of their proceeds from the sales of TBANK to subscribe to TMB newly issues share. The new shareholding structure of the Merged Bank is expected to consist of ING by 22%, TCAP 21%, MOF (including Vayupak Fund 1) 20% and BNS 6% approximately.


Latest Press Release

CPF remains on guard against Covid-19

Despite no report of locally transmitted COVID-19, Charoen Pokphand Foods PCL (CPF) has reassured that it will keep a strict preventive measures against the outbreak to ensure 100% product safety. Using a successful experience from the operation in...

Metro Connect together with HPE and Cohesity expand Data Management Solutions to business alliances

Mr. Chirasak Trangkineenart (Second from left) Assistant Managing Director, Metro Connect Co., Ltd. a subsidiary company of Metro Systems Corporation Public Company together with Mr. Surachai Atthamongkolchai (Third from left) Hybrid IT Country Manager,...

CPF Russia praised for contributing food security to Russia during Covid-19 pandemic

H.E. Mr. Thanatip Upatising, Ambassador of Thailand to the Russian Federation, praised CPF Russia for bringing food security to people in Russia, including Thai expats, during Covid-19 crisis. The Ambassador said that Thai food businesses are not...

Perfect World CEO Dr. Robert H. Xiao: "Creative thinking empowers the future"

On July 30, Chinese game publisher Perfect World held an online press conference in Shanghai, at which Perfect World CEO Dr. Robert H. Xiao delivered a keynote speech during which he emphasized the importance of creative thinking as a vehicle to...

Nestle Reinforces Its Leadership in Green Packaging Innovations with the Launch of “NESCAFE PROTECT PROSLIM” in a Recyclable Monostructure Plastic Laminate Sachet

Nestle Reinforces Its Leadership in Green Packaging Innovations with the Launch of “NESCAFE PROTECT PROSLIM” in a Recyclable Monostructure Plastic Laminate Sachet, the First in the Global Coffee Industry, to Delight Environmentally-Conscious...

Related Topics