Business
Tesco fund leaps 10% in Bangkok debut
Mar 19th
A property fund controlled by Tesco, the world’s third-biggest retailer by sales, jumped more than 10 per cent on its trading debut in Bangkok on Monday, raising about Bt18.4bn ($600m) in Thailand’s biggest offering since Rayong Refinery’s $710m listing in 2006.
In what was Asia’s second-largest initial public offering this year, the Tesco Lotus Retail Growth Freehold & Leasehold Property Fund highlighted investor appetite for Thailand and the UK blue chip.
Siam City Bank attracts interest from HSBC
Feb 3rd
Bank of Nova Scotia and HSBC Holdings Plc are among remaining candidates to buy a 47.6 percent stake in Thailand’s Siam City Bank Pcl after three bidders dropped out, people with knowledge of the matter said.
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Hong Leong Bank Bhd. of Malaysia failed to submit a binding bid by a Feb. 1 deadline, the people said, asking not to be identified. CVC Capital Partners Ltd. dropped out on concern the Thai government won’t allow financial investors to control a local bank, one of the people said. Korea Development Bank said Feb. 1 it had abandoned plans to buy the stake. More >
