BBL tenders for Bualuang Securities
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Bangkok Bank plans to make a tender offer for Bualuang Securities (BLS) at Bt22 per share and then delist the securities house from the stock exchange.
The bank said in a statement that this is in line with its strategy to become a universal bank. The tender offer will ensure full control of the securities unit, from 56.3 per cent at present.
At Bt22 per share, the value of the remaining shares not owned by the bank will be Bt2.6 billion.
DBS Vickers Securities (Thailand) noted that if the tender offer is successful, BBL's net profit this year should inch up by Bt200 million.
"The BLS tender offer will support BBL’s operations, especially in the capital markets," it said.
