BankThai takes on new foreign investors
BankThai has two more new foreign shareholders, Blum Strategic Partners and the Marathon Special Opportunity Master Fund, both of which were introduced by new strategic investor TPG Newbridge.
The three strategic partners will invest in the bank's new shares and hold a combined stake of 33.88 per cent worth Bt3.05 billion. The small-sized bank yesterday said in a statement to the Stock Exchange of Thailand that it had allocated 731.45 million shares to the three companies. TPG Newbridge has 556.25 million shares, or 24.99 per cent of the bank's registered capital. It has invested through a holding company named Centrepoint Media Investments Netherlands. Blum and Marathon will each hold 87.61 million shares for 3.94-per-cent stakes. BankThai's new shares were sold for Bt4.17 apiece. TPG Newbridge wanted a larger shareholding, but the bank's regulations prevented a foreign company from owning more than 25 per cent. Additional investors were solicited to provide more capital for BankThai operations. TPG Newbridge is the Asian investment arm of the Texas Pacific Group, one of the world's leading private-equity firms. TPG manages more than US$5 billion (Bt175 billion) in capital around the world. Centrepoint Media Investments is involved in finance and management, as well as providing advice and services to legal entities and other enterprises. Blum is a global private-investment firm.
Somruedi Banchongduang The Nation
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