AFP, Bangkok :
The financial arm of Thailand’s ultra-rich monarchy has transferred bank shares worth more than $500 million on behalf of King Maha Vajiralongkorn, according to the Securities and Exchange Commission (SEC).
The SEC filing said the Crown Property Bureau, which manages the multi-billion dollar assets of the royal family, had reduced its shares in Siam Commercial Bank by 3.33 percent on October 2.
That stake is worth 16.9 billion baht ($505 million) based on Friday’s closing share price of 151 baht.
The financial arm of Thailand’s ultra-rich monarchy has transferred bank shares worth more than $500 million on behalf of King Maha Vajiralongkorn, according to the Securities and Exchange Commission (SEC).
The SEC filing said the Crown Property Bureau, which manages the multi-billion dollar assets of the royal family, had reduced its shares in Siam Commercial Bank by 3.33 percent on October 2.
That stake is worth 16.9 billion baht ($505 million) based on Friday’s closing share price of 151 baht.
