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MOF to raise funds for TMB stake
Finance Ministry aims to sell seven companies and state enterprises it is currently holding to raise Bt7.8 billion of fund to buy capital increase shares of TMB Bank, a source from the ministry said.
"The Cabinet decided to sell both state enterprises and companies in the stock market by seven organisations to get Bt7.82 billion to inject capital in TMB," a source was quoted by Reuters as saying.
The source said the seven organisations are Bangkok Bank, Siam Commercial Bank, Padaeng Industry, NEP Realty and Industry, Thai Airways International, MCOT, and PTT.
Yesterday, Areepong Bhoochaoom, director general of State Enterprise Policy Office, said the Cabinet approved the Finance Ministry to sell shares in its portfolio investment to finance TMB's capital increase.
The ministry is approved to buy TMB shares at Bt1.4 apiece with total amount of Bt7.8 billion.
The source added that the ministry aims to sell its shares to both stateowned financial institutions and general investors via the stock market. The ministry will considers prices and selling conditions by its own in order to seek highest benefit for the ministry and avoid impact on the stock market.
The Nation
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