KTB rights issue

Krung Thai Bank plans rights issue

The Thai bank’s plan to raise $1.1 billion from a rights issue is expected to spur growth in lending.

Krung Thai Bank is planning to raise Bt35.2 billion $1.1 billion from a rights issue, which it said will help strengthen its financial status.

The Bangkok-based bank announced late last week that it will offer 2.8 billion new shares to existing shareholders at the offering ratio of four existing shares to one new ordinary share. The rights offering price will be Bt12.60 a share, which represents a 25.9% discount over Thursday’s close of Bt17. The stock fell 2.4% on Friday, the day after the announcement, to end at Bt16.6. The Thai stock market was closed yesterday for a public holiday.

The record date for the rights issue...

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