Bangkok: KBANK has requested that GULF refrain from selling its shares during the share buyback period from November 14, 2025, to May 13, 2026. GULF, however, has reserved its rights as an investor.
According to Thai News Agency, Ms. Yupapin Wangviwat, Chief Financial Officer of Gulf Development Public Company Limited (GULF), addressed concerns from investors and shareholders about the impact on GULF following Kasikornbank’s (KBANK) board decision to approve a share repurchase program for financial management purposes. This decision was made on October 30, 2025, with the repurchase window set between November 14, 2025, and May 13, 2026. On the same day, KBANK formally requested GULF to cooperate by not selling its shares during the specified period.
GULF has clarified that its investment in KBANK, holding 4.53% of the bank’s shares, is intended to maximize returns for both the company and its shareholders. GULF emphasized that it does not have any representatives on KBANK’s board of directors or management team and is not involved in the bank’s management or policy decisions, including the current share repurchase policy.
The bank’s share repurchase program does not restrict GULF’s rights to buy or sell KBANK shares, provided that all actions are in compliance with regulatory authorities and relevant laws. As a listed entity on the Stock Exchange of Thailand, GULF is committed to acting in the best interests of its company and shareholders.
Kasikornbank’s share repurchase program aims to manage its financial resources more efficiently, with a cap of 8.8 billion baht and a maximum of 47.39 million shares to be repurchased through the Stock Exchange of Thailand’s trading system within the specified period. This initiative is expected to optimize capital management, reflecting the bank’s strong capital base, and support future operations. The program is also set to reduce the bank’s book value and outstanding shares, increasing the return on equity (ROE) and earnings per share (EPS), allowing the share price to better mirror its true value, ultimately benefiting shareholders.