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More than $500 million in bank shares transferred on Thai king’s behalf

BANGKOK: The financial arm of Thailand 's ultra-rich monarchy has transferred bank shares worth more than $500 million on behalf of King Maha Vajiralongkorn, according to the Securities and Exchange Commission (SEC). The SEC filing said the Crown Property Bureau, which manages the multi-billion dollar assets of the royal family, had reduced its shares in Siam Commercial Bank by 3.33 percent on October 2. That stake is worth 16.9 billion baht ($505 million) based on Friday's closing share price of 151 baht. The…