Indonesia's Bank Maspion shares jump after Thai Kbank investment

📆 30/05/2022 11:05:00
📰 ChannelNewsAsia

⏱ Reading Time:
26 sec. here
2 min. at publisher
📊 Quality Score:
News: 14%
Publisher: 66%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

BANGKOK : Shares of PT Bank Maspion Indonesia TBK rose more than 10 per cent on Monday morning after Thailand's Kasikornbank Pcl (Kbank) said it would invest up to $220 million to become the lender's largest shareholder. The Thai lender, which bought 10 per cent of Bank Maspion Indonesia in 2017 for $20 m

BANGKOK : Shares of PT Bank Maspion Indonesia TBK rose more than 10 per cent on Monday morning after Thailand's Kasikornbank Pcl said it would invest up to $220 million to become the lender's largest shareholder.

The Thai lender, which bought 10 per cent of Bank Maspion Indonesia in 2017 for $20 million, said in a filing that it would invest up to $220 million to reach a shareholding of at least 67.5 per cent. Kbank, Thailand's second-largest lender by assets, expects the transaction to be finalised by the end of the year.

The announcement comes as Thai lenders invest outside their home turf, seeking more growth in Southeast Asia. Last year, Kbank opened its first branch in Vietnam.Source: Reuters

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Write Comment

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Moomoo provides millennials and Gen Zs easy access to US stocks tradingFutu SG aims to help young investors expand their portfolio with its one-stop investment platform. Hey, it’s pronounced mu’u mu’u 😁
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »