BAM listing advisers named
The board of the Financial Institutions Development Fund (FIDF) has approved the appointment of Trinity Securities Co, Kasikorn Securities, and UBS as the financial advisers to apply for listing of Bangkok Commercial Asset Management Co (BAM) on the Stock
Currently, FIDF holds 100 per cent or 547 million shares in BAM at par value of Bt25. BAM now has book value of Bt53.61 per share. As of March 31, it recorded net profit of Bt1.63 billion and total assets of Bt73.42 billion.
The company plans to list on the SET around the end of this year or in 2014.
Established in 1999, BAM has the primary task to manage the distressed assets of defunct Bangkok Bank of Commerce. On the later date, it purchased non-performing loans from other financial institutions like Phyathai Asset Management, Ratanasin Asset Management, Standard Chartered Bank (Thai), Government Housing Bank, BankThai, Asset Management Corporation, Saving Asset Management, Secondary Mortgage Corporation, Citibank, Tanapat Credit Foncier, Siam City Bank, Sathorn Asset Management, Land and Houses Retail Bank, TMB Bank, Finansa, Bank of Ayudhya, and Financial Institution Development Fund.
