DBS Thai Danu raises $343 million in new funds

Lack of institutional support saw DBS take up most of the issue. But now Danu can focus on its planned bad loan auction.

DBS Thai Danu Bank PLC Danu, one of ThailandÆs smallest lenders, has completed a Bt13.5 billion $343 million rights issue that will go towards offsetting its bad loan book. Most of the new funds came from its parent, Development Bank of Singapore DBS, Singapore's biggest banking group.

Danu offered 1.1 billion new shares to its existing shareholders on 25 May. Shareholders received one new share and one warrant for each share they owned. Danu has also made...

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