Finance Ministry to unload 25 billion baht worth of shares in over 110 firms
Officials will seek Cabinet approval to sell off minority stakes acquired in legal cases
The Finance Ministry said on Wednesday it plans to unload shares it holds in over 110 firms, worth a total of around 25 billion baht, by December.
Permanent Secretary Lawan Saengsanit said the move would reduce the number of listed and non-listed companies in which the ministry holds shares from 133 to around 20.
Lawan said Cabinet approval would be sought to sell shares in enterprises where the ministry has a minority stake, aiming to improve efficiency in managing its remaining shareholdings.
The decision to unload the shares was made by the committee in charge of management and development of state securities, he said.
Tibordee Wattanakul, director of the State Enterprise Policy Office (SEPO), said the committee resolved that the ministry should sell off shares in firms where it held a stake of 5 to 10%.
The selloff would reduce the value of the ministry’s total shareholding from 30 billion-40 billion baht to about 5 billion baht, he said.
Tibordee noted that the ministry acquired the shares in legal proceedings, rather than direct purchases, and had no authority to manage the firms. Moreover, the shares had fallen in price and were not earning much revenue for the ministry.
He said the ministry was now waiting for a reply from the State Audit Office over whether it could sell the shares at a loss.
