The share price of Amanah Leasing Public Company Limited (AMANAH) jumped 9.30% to ฿2.82/share after the report of being in the process to be taken over by the Government Saving Bank.
As of AMANAH 10:30 local time in Thailand, AMANAH gained ฿0.24/share or 9.30% to trade at ฿2.82/share with a trading value of 152 million baht.
In reference to “Kaohoon Turakij Newspaper” dated November 2, 2020, The Government Saving Bank (GSB) expected to takeover AMANAH with an investment not over 2 billion baht by purchasing 500 million shares or 48.59% of the stake from Islamic Bank of Thailand. An additional agenda will be proposed to the Board of Directors in November to advance to car loans business.
AMANAH clarified through the Stock Exchange of Thailand in the morning session of November 2nd, stating that the company had not been contacted by GSB as reported in the newspaper.
However, the analyst stated that the process is being discussed between GSB and Islamic Bank of Thailand, which are the buyer and the seller, while AMANAH is an underlying asset. Thus, the process has not reached AMANAH as of this stage.