Reported about 15 hours ago
Gulf Energy Development, led by Thailand's richest man Sarath Ratanavadi, has increased its stake in Kasikornbank to 3.25%, valued at $370 million. This move positions Gulf as the bank's fifth largest shareholder, with expectations for benefits from a potential rise in the bank's share price. The acquisition aligns with Gulf's investment strategy and follows plans for a merger with Intouch Holdings, aiming to create a $25 billion market entity.
Source: YAHOO