LHFG Soars 21% with a Trading Value over THB1.1Bn after CTBC Bank Takes 46% Stake

The share price of LHFG rose sharply in the afternoon session with an overflow trading value after Taiwan's CTBC Bank increased its stake to 46%.

The share price of LH Financial Group Public Company Limited (LHFG) rose ฿0.26/share or 21.14% to ฿1.49/share as of 15:29 local time in Thailand, with a trading value of 1,133 million baht.

The surge in share price came after LHFG officially announced through the Stock Exchange of Thailand yesterday that the purchase of the shares has been successfully completed, consequently CTBC holds LHFG shares in aggregate of 46.61% of the total issued and voting shares.

Reference is made to the company’s previous notification informing that CTBC Bank Company Limited (CTBC) has shown the intent to acquire shares from Ms. Piangjai Harnpanij and Mr. Pairoj Paisarnsrisomsuk, in aggregate of 10.99% of the total issued and voting shares and the aforementioned intent has been approved by the Bank of Thailand and regulatory authorities of Taiwan.

CTBC Bank is a leading financial services group in Asia and is Ranked number 1 most valuable brand in Taiwan’s financial industry. The Bank was named the Best Retail Bank in Asia Pacific for 2019 by the Asian Banker.

CTBC Bank has a high credit rating of ‘A’/ ‘A’/ ‘A2’ by S&P/ Fitch / Moody’s and has comprehensive overseas network with over 260 service outlets in 14 countries and 152 branches in Taiwan (branches, subsidiaries and their branches, and representative offices), in America, Canada, Japan, India, Indonesia, the Philippines, Thailand, Vietnam, Hong Kong, Singapore and mainland China. The Bank has been actively expanding into overseas markets and focuses on building a complete cross-border financial service platform.

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