(Thailand) In the wake of ANZ’s decision not to invest in Thai Military Bank, the local Finance Ministry has announced it is considering selling its shares in the bank at a discount price.The Thai government, which owns 49 percent of the bank, is looking to raise some 22.4 billion baht by issuing more than six billion new shares in a rights issue in September.
An official from the Thai ministry said the government needed a strategic partner to help it sell the shares, especially given the large size of the lot.
He said losses would have to spread across both large and small existing shareholders.