Bangkok Bank completes capital raising

Thai bank increases issue size to meet strong demand.

An increased Bt32 billion $807 million equity offering by Bangkok Bank was completed after Friday's close via lead manager Morgan Stanley. The deal size was raised from Bt28 billion after the international order book closed seven times oversubscribed. There is also a greenshoe for a further 15%.

Of the 384.3 million shares on offer, international investors have been allocated 181.8 million at an issue price of Bt88 per share, while domestic investors will receive 202.5 million at Bt79 per share. The domestic offering will run across Monday and Tuesday.

The international tranche was priced at a 4.3% discount to the stock's foreign close of Bt92. Observers report little price sensitivity and...

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