The Extraordinary General Meeting of Shareholders of The Siam Commercial Bank Public Company Limited (SCB) held on November 15, 2021, approved the restructuring plan to establish SCB X Public Company Limited (SCBx) to be a parent company.
The establishment of SCBx as a parent company in the financial group will enable its role in policymaking, and supervising and managing the financial business group that is consistent with SCB’s overall strategy, as well as managing investments in new businesses. SCBx will make a tender offer for SCB and later will be listed in the Stock Exchange of Thailand. SCB will be delisted from the index afterward. Shares that SCB holds in its subsidiaries will also be transferred to SCBx.
Moreover, the EGM also approved in principle the payment of interim dividends from the net annual profit for the year 2021 and retained earnings according to the latest Bank-only financial statements in an amount of approximately 70,000 million baht to SCBx and other shareholders of SCN at that time.
