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Plans to sell stake in Krung Thai Bank back on

Plans to sell stake in Krung Thai Bank back on

(Thailand) Making the most of favourable market conditions, the Thai government has dusted off long-postponed plans to sell stakes in Krung Thai Bank with shares likely to be offered to the public at the end of this year. Thailand Prime Minister Thaksin Shinwatra has given the plan the green light as the government seeks to privatise state-owned enterprises while the local stock market remains upbeat.

The only potential barrier to the sale of shares in Krung Thai is the government’s intention to also sell stakes in Thai Airways International, as the government has indicated it does not want the respective shares to be offered simultaneously.

Executives at Krung Thai are hoping the share offer will take place before September, the last month of the current stock market rally.

The bank, which is looking to target small to medium size enterprises and lose its reputation as a stodgy state-owned bank, has said investors should treat stock as a long-term investment.

The share offering is likely to reduce the government’s stake in the bank from 92 percent to 55 percent.

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