MORE chief aims to snap up shares
On 10 November 2022, the abnormal trading stock of More Return Public Company Limited (“MORE”) had taken place and has crucial effect on the Stock Exchange of Thailand (“SET”) and investors who held the shares of MORE.
Due to the fact that the stock exchange of Thailand found that More’s securities were suspiciously traded from the previous period with a trading volume as high as 1,500 million shares or equivalent to 4,300 million Baht which led to a trading value of More’s securities up to 7,142 million Baht throughout the day.
In addition, it was found that an bidding order at a price of 2.90 Baht per shares with equivalent to 1,500 million Baht sent from only one purchaser through several brokerage companies and an offering order sent from a number of sellers and the offer price was similar to the bid price.
As a result, the More’s securities were suspended from trading on the stock exchange of Thailand by the SET from 14 November 2022 to 18 November 2022 in order to investigate the facts and evidence in relation to unusual transaction.
Legal Insight Vol. December 2022 of Bangkok Global Law
The PDF file can be downloaded via the link as set below.