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GULF: KBANK Shareholding Still Below BOT Approval Threshold

GULF: KBANK Shareholding Still Below BOT Approval Threshold

Prachachat•Economy•1d ago

Reader Briefing

Gulf Energy Development asserts its recent acquisition of Kasikornbank shares does not require Bank of Thailand approval as it remains below the 10% ownership threshold.

  • •Gulf Energy Development has issued a clarification regarding its shareholding in Kasikornbank (KBANK).
  • •The company states that its voting rights do not yet meet the criteria requiring approval from the Bank of Thailand (BOT).
  • •The clarification follows a report from the Securities and Exchange Commission (SEC) on February 13, 2026, concerning the acquisition.
  • •The shareholding, acquired on February 12, 2026, is stated to be below the 10% threshold for financial institutions, even when excluding treasury shares from the calculation.

Overview

  • •On January 31, 2026, treasury stock was outstanding at the end of the month.
  • •Gulf Energy Development stated the recent share acquisition does not result in holding shares of a financial institution exceeding 10% of total issued shares, calculated without deducting treasury shares.
  • •Gulf Energy Development clarified that the share acquisition is in compliance with the Capital Market Supervisory Board's Announcement No. Tor Jor 28/2011 regarding the reporting of securities acquisition or disposal.
  • •Gulf Energy Development confirmed that the acquisition of shares does not yet trigger the need for approval from the Bank of Thailand under Notification No. 41/2025.
  • •The Bank of Thailand's Notification No. 41/2025 concerns the criteria for approving shareholding in financial institutions or holding companies exceeding 10% of total issued shares.
  • •On February 12, 2026, Gulf Development Public Company Limited acquired shares of Kasikornbank Public Company Limited.
  • •On February 13, 2026, SEC News reported the acquisition of Kasikornbank shares by Gulf Development Public Company Limited.
  • •The share acquisition is stated to be below the 10% threshold requiring Bank of Thailand approval.

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Key Quotes

GULF
"The acquisition of such shares has not resulted in the company holding shares in a financial institution exceeding 10% of the total issued shares, calculated without deducting treasury shares, according to the Bank of Thailand's regulations."
การได้มาซึ่งหุ้นดังกล่าวยังไม่เป็นผลให้บริษัทถือหุ้นหรือมีไว้ซึ่งหุ้นของสถาบันการเงินเกินกว่าร้อยละ 10 ของจำนวนหุ้นที่จำหน่ายได้แล้วทั้งหมดของสถาบันการเงิน ซึ่งคำนวณโดยไม่หักจำนวนทุนหุ้นซื้อคืน ตามหลักเกณฑ์ของธนาคารแห่งประเทศไทย

Key Entities

Organization

Gulf Energy Development Public Company Limited(GULF)ℹ️
An organization clarifying its shareholding status in Kasikornbank.
Kasikornbank Public Company Limited(KBANK)ℹ️
A financial institution whose shares have been acquired by Gulf Energy Development.
Bank of Thailand(ธปท.)ℹ️
The central bank responsible for regulating financial institutions and approving shareholding thresholds.
Securities and Exchange Commission(ก.ล.ต.)ℹ️
The regulatory body that reported on Gulf Energy Development's share acquisition.

Law

Capital Market Supervisory Board's Announcement No. Tor Jor 28/2011(ประกาศคณะกรรมการกำกับตลาดทุนที่ ทจ. 28/2011)
A regulation concerning the reporting of securities acquisition or disposal, followed by Gulf Energy Development.
Bank of Thailand's Notification No. 41/2025(ประกาศธนาคารแห่งประเทศไทย ที่ 41/2025)
A regulation outlining the criteria for approving shareholding in financial institutions exceeding 10%.
Form 246-2(แบบ 246-2)
A reporting form related to securities acquisition, mentioned in SEC News.