Shares of TMBThanachart Bank, or TTB, dropped 3.45% to 2.80 baht after ING Group offered a big-lot stake worth about 500 million US dollars, or roughly 6.1 billion shares, equal to 6.3% of total shares, at 2.64 to 2.70 baht per share, a discount of about 7% to 9% from the previous close. After the transaction, ING will hold 11 billion TTB shares, or 11.2% of total shares, subject to a 90-day lock-up. Analysts at Bualuang Securities assess that the big-lot sale below the current price will be a negative factor pressuring the share price, and expect TTB's 2027 net profit to fall 10% because of reduced tax benefits, while maintaining a sell recommendation because TTB is more expensive than the overall commercial banking sector, reflected in a 2027 price-to-book ratio relative to return on equity of 0.145 times, above the sector average of 0.118 times.
TMBThanachart Bank Public Company LimitedING sells 6.3% stake at discount, pressuring share price; broker maintains sell on valuation.
ING Groep NVING sells stake at discount, reducing its holding, though it retains 11.2%.
