Siam Commercial Bank Public: “SCBX Group” reaches more than 99%

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“SCBX Group” Achieves Over 99% Tender Offer Result, Demonstrating Investors’ Confidence in the Group’s Business Restructuring Plan and Growth Strategy

• “SCBX” successfully became the Group’s “Mothership” on April 22, 2022

“SCBX” completed the process of registering the new share capital with the Ministry of Commerce today (April 22, 2022), making the company fully established as the “Mothership” of the SCBX Group. The tender offer period for “SCB” shares by “SCBX” ended on April 18, 2022 with an overwhelming reception from investors as more than 99% of total SCB shares accepted the tender offer. ‘take-over bid. This achievement is a faithful reflection of investors’ confidence in the company’s restructuring and its “Mothership” strategic plan, which aims to increase the value of the group through the growth of new activities in order to be able to provide strong and sustainable returns to shareholders over the longer term. SCBX is in the process of listing the new SCBX shares on the Thai Stock Exchange of Thailand and simultaneously delisting the shares of Siam Commercial Bank.

Arthid Nanthawithaya, Managing Director and Chairman of the Executive Committee of SCB X PCL and Siam Commercial Bank noted in a statement: “The SCBX Group would like to express its gratitude to SCB shareholders for their positive response to the tender offer, with 99% of the total shares agreed to exchange ‘SCB’ for ‘SCBX’ shares. “. This exceeds our target of 90% which not only reflects the real will of the majority of shareholders in the restructuring of the Group’s activities, but also reflects their confidence in the “Mothership” strategy which aims to elevate the SCBX Group into a group regional financial technology capable of reacting quickly to emerging consumer needs and competing on equal footing with world-class players.”

Following the acceptance of the public tender offer, on April 22, 2022, the “SCBX Group” proceeded to a new capital registration with the Ministry of Commerce, establishing SCB X Public Company Limited as the parent company of the Group. SCBX shares are expected to be listed on the Thai Stock Exchange, allowing investors to trade “SCBX” shares on the exchange, while SCB shares will be delisted. SCBX shares will continue to trade under the symbol “SCB”.

“We are confident that this shareholder restructuring process will significantly enhance the potential and flexibility for business growth within the SCBX Group in a variety of ways, with SCBX serving as the “Mothership”. significant business through news in the digital financial industry. In addition, it will improve the operational transparency of the Group, allowing it to fully grow and develop new businesses in the future, while maintaining a clear separation of the governance and business risk management. This will boost the Group’s overall business operations and provide shareholders with the opportunity to earn higher rates of return on the business transferred to SCBX, which will become the Group’s parent company and acquire ‘other high-growth businesses in the future’, Arthid Noted.

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