The share price of Bangkok Bank Public Company Limited (BBL) dropped ฿1.50/share or 1.20% to ฿123.50/share with a trading value of 977 million baht as of 15:32 local time in Thailand on November 26, 2020.
Thai NVDR Co., Ltd. (Thai NVDR) would like to inform the procedure as approved by the Bank of Thailand (BOT) regarding the holding of shares of Bangkok Bank Public Company Limited (BBL).
From December 24, 2020 onwards, if Thai NVDR holds shares of BBL more than 25 percent of the paid-up capital, Thai NVDR still has the rights to hold or maintain those shares. Then, if the shares are sold, Thai NVDR shall have the rights to hold or maintain those shares equal to the amount of remaining shares until Thai NVDR is able to reduce the ratio of holding shares of BBL at no more than 25 percent of the paid-up capital.
Capital Nomura Securities (CNS) stated that the move will pose as a short-negative sentiment to BBL as Foreign Ownership Limit is at its max of 30%, while the Thai NVDR holds 23.73% with a limit a 25% stake, which might cause a short sell due to a negative sentiment of weighing down from Foriegn Investors.