Malaysia's CIMB plans listing on Thai bourse
Posted: 16 November 2009 1754 hrs

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KUALA LUMPUR: Malaysia's CIMB Group Holdings is considering a Thailand stock market listing in the first half of 2010 and hopes to raise 452.20 million ringgit (US$135 million).

Nazir Razak, CIMB chief executive, said the IPO in the Thai market will further boost the bank's expansion in the region.

CIMB is Malaysia's second largest bank by assets.

Patareeya Benjapolchai, president of the Stock Exchange of Thailand (SET) hailed CIMB's plan which would potentially give it a first foreign listing.

"The Stock Exchange of Thailand truly welcomes CIMB Group as our first foreign listing. We are ready to support the company in the listing process to realise its intention," she said.

Based on CIMB Group's market capitalisation of US$13.7 billion, the company would be among the three largest companies on SET and the largest financial services group.

- AFP/sc