TTB Finalises Terms for $262m Share Buyback via General Offer

 

TMBThanachart Bank sets a final price of 2.03 Baht for its second 2026 tranche, aiming to repurchase 4.49% of shares to boost investor value.

TMBThanachart Bank (TTB) has officially set the price for its second share buyback of 2026 at 2.03 baht ($0.06) per share.

 

The bank intends to deploy a budget of 8.9 billion baht (approx. $262 million) to repurchase 4,384 million shares, representing 4.49% of its total paid-up capital.

 

The offer will be conducted as a General Offer (GO) to all shareholders, running for a ten-day period between 22 January and 4 February 2026.

 

The final price represents a modest increase from the initial estimated range of 1.90 to 2.00 baht.

 

On Monday, 5 January, TTB’s leadership confirmed that the 2.03 baht ($0.06) valuation was determined after a thorough review of recent trading performance on the Stock Exchange of Thailand (SET), ensuring the offer remains attractive and beneficial to existing shareholders.

 

This second tranche is part of a wider 21-billion-baht ($618 million) capital management programme spanning 2025 to 2027.

 

Following the completion of the first tranche in mid-2025, TTB has now moved to repurchase a cumulative total of 7.25% of its shares.

 

Piti Tantakasem, Chief Executive of TTB, noted that the bank was able to move more aggressively this year thanks to the Ministry of Commerce’s decision to remove the mandatory "breaking period" between buyback cycles.

 

Previously, companies were required to wait six months before initiating a new round.

 

Unlike the first tranche, which relied on the SET’s automatic matching system over several months, the second tranche utilises a general offer.

 

"This method allows us to repurchase a larger volume in a significantly shorter window," Piti explained. "It minimises the impact on daily market liquidity and protects the bank from the volatility of the secondary market."

 

The buyback is expected to provide a substantial boost to the bank’s financial health indicators.

 

By reducing the number of shares in circulation, TTB anticipates a rise in Return on Equity (ROE)—which stood at 8.6% as of late 2025—and a corresponding lift in Earnings Per Share (EPS).

 

 

Despite the significant capital outlay, the bank maintains a robust balance sheet. Post-buyback, TTB’s Total Capital Adequacy Ratio (Total CAR) is projected to remain comfortably above 19%.

 

This ensures the lender stays in line with other Domestic Systemically Important Banks (D-SIBs) while retaining enough capital to support planned loan growth throughout 2026.