The Market for Alternative Investment (MAI) noticed the debut of TBN Corporation shares on Monday, main the Stock Exchange of Thailand (SET) to issue a cautionary notice to traders in mild of excessive buying and selling hypothesis.
Yesterday morning, TBN shares skilled a trading turnover ratio of 85%, reaching 41.5 baht by midday. The 144% enhance was up from the initial public offering (IPO) price of 17 baht and resulted in a buying and selling value of three.59 billion baht. TBN, a know-how group, saw its shares surge to 42.5 baht during Monday’s debut session, ending with a buying and selling value of two.6 billion baht.
A SET statement highlighted seven “big lot” sell orders involving 9.5 million shares from current shareholders, priced at 20.75 baht each. With this data, the SET suggested traders to consider all features before trading TBN shares and requested brokers to closely supervise trading activities.
TBN Corporation, an integrated digital design and development services provider, reported whole property of 320 million baht and complete liabilities of 218 million baht by March this 12 months, reported Bangkok Post.
Hidden in consulting on digital transformation and creating customised options utilizing Mendix’s low-code improvement platform. As the primary licensed reseller of Siemens’ Mendix software in Thailand, TBN’s paid-up capital after the IPO quantities to 50 million baht, with a par worth of 0.50 baht.
The IPO shares consist of 75 million current odd shares and 25 million newly issued odd shares.
Yesterday, TBN shares closed on the MAI at 29.5 baht, down 30.6%, with a buying and selling value of four.39 billion baht..