PETALING JAYA: CIMB Group Holdings Bhd has officially resumed its plans for a dual listing on the Stock Exchange of Thailand (SET), after postponing it numerous times due to an unresolved double taxation issue.
In a filing with Bursa Malaysia, CIMB Group said it had decided to resume its planned dual listing, following recent regulatory developments in Thailand.
“CIMB and its advisors would continue to hold discussions with the relevant authorities in Thailand on the details of the implementation of the proposed SET listing,” CIMB Investment Bank Bhd said on behalf of the group.
Yesterday, the company submitted applications for the proposed listing to the Securities Commission (SC) and Bursa Securities.
It said that the listing could take place by the end of the year if all approvals were obtained and implementation details ironed out.
The proposed dual listing was earlier put on hold due to various key regulatory issues pertaining to tax-related matters.
The group had initially proposed a dual listing in Thailand in 2009 and subsequently received approval from the SC to extend the period for the completion of the listing. However, in mid-2011, it decided to postpone the proposed dual listing until further notice due to issues such as dividends and withholding tax, among others.
cimb ยื่น dual listing ศุกร์เรียบร้อย
In a filing with Bursa Malaysia, CIMB Group said it had decided to resume its planned dual listing, following recent regulatory developments in Thailand.
“CIMB and its advisors would continue to hold discussions with the relevant authorities in Thailand on the details of the implementation of the proposed SET listing,” CIMB Investment Bank Bhd said on behalf of the group.
Yesterday, the company submitted applications for the proposed listing to the Securities Commission (SC) and Bursa Securities.
It said that the listing could take place by the end of the year if all approvals were obtained and implementation details ironed out.
The proposed dual listing was earlier put on hold due to various key regulatory issues pertaining to tax-related matters.
The group had initially proposed a dual listing in Thailand in 2009 and subsequently received approval from the SC to extend the period for the completion of the listing. However, in mid-2011, it decided to postpone the proposed dual listing until further notice due to issues such as dividends and withholding tax, among others.