Bangkok--14 Jul--Siam Commercial Bank
We refer to the media reports, both yesterday and today, pertaining to the Bank's divestment of its share holding in Siam Industrial Credit PCL ( SICCO) and the likely selling price.
We wish to clarify as follows:
- Over the past few years, the Bank has made several unsuccessful attempts to divest its shareholding in SICCO. These efforts are on-going and by no means conclusive at this stage.
- Due to market practice, the Bank is unable to provide any guidance on the likely selling price of its shares in SICCO should it succeed in its efforts to divest these shares. Nevertheless, it feels compelled to place on record that the media reports on the likely selling price are false. Further, the Bank wishes to express great concern that the current market speculation on the likely selling price of its shareholding may mislead investors and cause serious damage.