Siam Commercial Bank: laying the ghost

Deals of the year - Top quality issuers succeed in demanding markets

Deals of the year – Top quality issuers succeed in demanding markets

Ferguson: failure was not an option

Placing 6.2 billion shares for the recapitalization of the Siam Commercial Bank (SCB) – Thailand’s fourth-largest bank – in April 1991 was a task that many in the market considered almost impossible. The deal had to contend with the ghosts of previous recapitalizations involving foreign investors, such as Goldman Sachs’ $860 million deal for Thai Farmers Bank and Morgan Stanley’s $1.04

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