CIMB Thai Bank is looking to raise THB5.5bn ($15.5m) in a rights issue to secure its capital position; CIMB Thai is a 93.71% indirect subsidiary of CIMB Group Holdings. The company has been struggling with low interest rates and high debt levels for the past few years, but it recently announced that it will be able to repay all outstanding loans by June 2018.
CIMB Thai Bank is looking to raise THB5.5bn ($15.5m) in a rights issue to secure its capital position; CIMB Thai is a 93.71% indirect subsidiary of CIMB Group Holdings. Speaking to Bursa Malaysia, the bank said that the rights issue (5.505 billion rights shares at one baht each) will be at a ratio of two rights shares for every nine existing shares held.