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Thai Government Savings Bank Proposes B500m BankThai Purchase.
Byline: Wichit Sirithaveeporn
Oct. 5--The Government Savings Bank has proposed purchasing 500 million baht worth of shares in BankThai at a price of 10.025 baht per share, according to Somchainuk Engtrakul, permanent secretary for Finance.
The GSB board, chaired by Mr Somchainuk, met yesterday to discuss the investment plan.
A proposal to purchase the shares has already been submitted to the Finance Ministry for final approval.
Mr Somchainuk said the shares would be purchased directly from BankThai.
The price was equivalent to the public offering price set by the bank last week, minus underwriters' fees of 2.75 percent.
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