LHBANK RECEIVES CASH FOR SHARES FROM CTBC BANK
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LH Financial Group Plc (LHBank) has received Bt16.59 million in cash payment from CTBC Bank for the acquisition of 7.544 billion new shares or 35.617 per cent of LHBank, according to the company’s report to the Stock Exchange of Thailand yesterday.
LHBank President Sasitorn Phongsathorn said the new capital had raised the bank’s capital to Bt40 billion with its common equity tier 1 at 20.3 per cent.
As a result of its investment, CTBC Bank will be the major shareholder in LHBank, followed by Land and Houses Plc (21.879 per cent) and Quality Houses (13.738 per cent).
