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CIMB seeks dual listing in Thailand



CIMB seeks dual listing in Thailand

Dato Sri Nazir Razak

CIMB Group Holdings Bhd, a Kuala Lumpur-based banking group, becomes the first foreign company to seek a dual listing on the Stock Exchange of Thailand.

 

  

 Announcing the plan today, CEO Dato Sri Nazir Razak said the listing on the Thai bourse emphasises the group's commitment to Thailand, strengthens awareness to CIMB Group among Thais, and allows Thai investors the access to a regional company.

 The group will be the first to come under the rules to welcome foreign companies to the Thai bourse. The new listing rules are expected to be effective from December 1, 2009.

 SET President Patareeya Benjapolchai extended her welcome to the group, citing that its presence would boost Thailand's presence among international investors. She said the SET will help CIMB Group succeed in this listing plan.

 CIMB, now listed on the Malaysian stock market, will become on the top three largest stocks in the Thai bourse in terms of market capitalisation. As of November 13, the market cap was US$13.7 billion or equivalent to Bt455.9 billion.



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