CIMB Thai proposes rights issue
CIMB Thai Bank has announced plans to augment its capital through a rights issue, Kittiphun Anutarasoti, president and chief executive officer revealed.
CIMB Thai will propose that shareholders consider and approve the allocation of 5,505,495,928 newly issued shares at par value of Bt0.50 per share to existing shareholders in the ratio of 2 rights shares for every 9 existing CIMB Thai shares. The offer price will be Bt1 per share.
The bank has outlined its strategic priorities this year anchored on 5Cs – customer, culture, compliance, cost and capital.
It is targeting a modest loan growth of 5-10 per cent amidst a recovering economy. However, the bank is confident of returning to profitability this year.
