The King of Thailand King Maha Vajiralongkorn Bodindradebayavarangkun is now a significant shareholder of cement manufacturing giant Siam Cement Group (SCG). The Thai King holds a 0.76% stake in the company of US$138mn worth.
The King became the owner of the shares after the shares of SCG’s largest shareholder, the Crown Property Bureau (CPB) got transferred to the King. CPB is an organisation that handles the assets of the Crown King of Thailand.
CPB came under the King’s direct authority after King Bhumibol Adulyadej, the father of the present King passed away in 2016.
According to a list of SCG’s top shareholders, King Maha now regulates around 9mn shares, making him the 15th-largest shareholder in his own right.