Trading in CIMB Thai suspended for not meeting minimum public spread
The suspension of share trading on CIMB Thai Bank Public Co Ltd was imposed in line with new regulations that came into effect on March 24, 2024, for companies that did not meet the 15% minimum float requirement.
Under the new regulations, there could be an eventual delisting of CIMB Thai if the minimum free float requirement is not met within one year and subject to the discretion of SET.
Prior to the new regulations, CIMB Thai had been paying penalty fees since 2011 for not meeting the minimum float requirement.
However, CIMB Group Holdings Bhd, the parent of CIMB Bank, said it has no intention of increasing the free float of CIMB Thai's shares.
"The suspension and potential delisting have no impact on CIMB Thai's customers, operations, or financial soundness. CIMB Thai remains a core subsidiary of the group and will continue its banking operations as usual," it said in a filing with Bursa Malaysia.
CIMB Thai's shares were last traded at THB0.37 (4.8 sen) a share on June 4.
Shares in CIMB Group were down three sen or 0.44% to RM6.84 a share at Friday's close.
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