The share price of The Siam Commercial Bank Public Company Limited (SET: SCB) plunged 13.29% to THB89.75 per share on April 18, 2022, which is the last day of tender offer for SCB’s securities as the company will soon be delisted from the Thai stock exchange and listed as SCBx instead.
The bank stated that SCB’s shareholders who accept the Tender Offer will be paid with the newly issued shares of SCB X Public Company Limited, with the exchange rate of 1 ordinary share or preferred share of SCB per 1 ordinary share of SCB X Public Company Limited. 11 Apr 2022 is the last purchasing day of SCB’s ordinary shares or preferred shares on the SET and can be offered to SCB X Public Company Limited.
Trinity Securities stated earlier that the recent decline of SCB’s share price was due to the SWAP period, resulting in lower trading volume in the market. The securities company does not recommend buying the stock right now as investors will not be able to swap the share for SCBx. In addition, Trinity Securities advised investors to wait until all the procedures are finished, giving a target price for SCBx at THB157 per share.
