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LH Financial, CTBC Bank extend period for share subscription agreement

Thailand-based LH Financial Group PCL's board passed a resolution to extend the deadline for the co-investment period under a share subscription agreement with Taiwan's CTBC Bank Co. Ltd. to Sept. 30, 2017, from Dec. 31.

CTBC Bank, a unit of CTBC Financial Holding Co. Ltd., previously agreed to subscribe to new shares, resulting in the Taiwanese bank owning a 35.6% stake in LH Financial.

The transaction is expected to expand LH Financial unit Land & Houses Bank PCL's business and increase CTBC Bank's overseas revenues.