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Thai Credit Bank successfully debut on the stock exchange

Thai Credit Bank feb 23 2024

Thai Credit Bank Public Company Limited, also known as “Thai Credit Bank,” had a successful first day of trading on the Stock Exchange of Thailand within the financial/banking sector, using the abbreviation “CREDIT.” This achievement marks the bank as the first commercial bank in a decade to raise funds through an Initial Public Offering (IPO).

The opening ceremony at the SET building was graced by key figures like Prof. Kitipong Urapeepatanapong, Chairman of the Bank, Mr. Winyou Chaiyawan, Chief Executive Officer, and Mr. Roy Augustinus Gunara, Managing Director. The event was also attended by dignitaries such as His Excellency Mr. Mark Gooding OBE, the British Ambassador to Thailand, and executives from the Foreign, Commonwealth & Development Office (FCDO), along with various domestic and international institutional investors, Cornerstone Investors, the board of directors, and esteemed guests. This gathering took place on February 9, 2024.

Thai Credit Bank focuses on providing specialized financial services to Micro SMEs (MSME) and micro and nano enterprises within high-growth sectors in Thailand. The bank has offered additional common stock for sale, including shares from existing shareholder OCA Investment Holdings I Pte. Ltd., an investment firm within the Olympus Capital Asia group. This offering comprises 254,124,200 shares with a par value of 5.00 Baht/share, representing around 20.7% of the total issued and paid-up ordinary shares post-IPO.

OCA Investment Holdings I Pte. Ltd., an independent mid-market Private Equity firm with a strong emphasis on inclusive financial services in Asia, has been a key partner to Thai Credit Bank since 2019. Following the IPO, they will maintain a 7.6% stake in Thai Credit Bank and are dedicated to supporting the bank in achieving industry-leading growth and returns for its shareholders.

Mr. Winyou Chaiyawan, the Chief Executive Officer, highlighted that listing the company on the stock exchange will boost their potential for continuous and sustainable growth. The funds raised will bolster the bank’s capital, enabling expansion of the loan portfolio and the improvement of information technology systems. This strategic move will drive digital transformation, enhance IT infrastructure security, and align with Thai Credit Bank’s vision of supporting customers’ business growth through unique micro-finance services, embodying the ethos of ‘Everyone Matters’. The bank is committed to being a sustainable commercial bank, providing good returns for investors, and offering loan services to the people of Thailand.

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